Canadian Tire Corporation Provides Business Update Related to COVID-19

About this update from Canadian Tire Corporation, Limited

[{"type":"text","content":"\n\n\n\nCanadian Tire Corporation Provides Business Update Related to COVID-19\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, April 2, 2020\n\n\n\nTORONTO, April 2, 2020 /CNW/ - As the COVID-19 pandemic evolves, Canadian Tire Corporation (TSX:CTC, TSX:CTC.a) (CTC) continues to meet the heightened needs of Canadians and communities across the nation.\nAs 'Canada's Store', Canadian Tire Retail stores remain open, where permitted, to provide the essential products Canadians need during the current COVID-19 crisis. The safety of our customers and employees is our top priority and we have introduced several measures to reduce the spread of the virus in our stores. Stores have reduced their hours and are continuing to take precautions with enhanced cleaning protocols. To enforce physical distancing, we have installed plexiglass and floor decals and are working to limit the number of customers allowed in-store at any given time. \nWe continue to experience significant increases in Canadian Tire's eCommerce business across many categories. Last week, with the introduction of Curbside Pick Up, customers were offered another way to same-day shop while maintaining their physical distance. Demand for the new service has been strong during the first week of operation.\nWe previously announced that our Mark's/L'Équipeur, SportChek, Party City, Pro Hockey Life, National Sports, and PartSource stores have been temporarily closed to the public. While they will remain closed until further notice, we are continuing to see significant eCommerce demand, particularly at SportChek and Mark's as Canadians purchase health and fitness products and healthcare and industrial apparel. We are fully committed to helping our employees during this difficult time through financial support for our frontline teams, including a special support payment for our corporate store, distribution and call centre employees. \nCanadian Tire is also taking aggressive action to preserve its cash position and financial flexibility, including:\nImplementing a plan to ...

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