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Canadian Tire Corporation announces closures, hour reductions due to COVID-19

The temporary closure affects a number of retail outlets, including SportChek and Atmosphere. Canadian Tire stores will remain open but at reduced hours
Canadian Tire Corporation (TSX:CTC, TSX:CTC.a) announced today that in response to growing concern surrounding COVID-19, it will reduce operating hours at Canadian Tire Retail (CTR) and temporarily close its other retail stores, including Mark's/L'Équipeur, SportChek, Atmosphere, Party City, Pro Hockey Life, National Sports and PartSource. The temporary closure will be in effect from March 19 until April 2, at which time operations will be reassessed. During the closure period, full and part-time employees will be paid.

CTR, which operates over 500 stores across Canada, has been supporting its communities by providing access to the essential products Canadians need during this time. Hours at Canadian Tire stores will be reduced to allow for enhanced cleaning and restocking. Gas+ locations will also remain open, with regular operating hours.

"Canadian Tire and our Associate Dealers have always been there to support their communities through emergencies and times of crisis, and for the last number of days, Canadians have turned to Canadian Tire Retail for the supplies they need to cope with the impact of COVID-19. As we continue to adapt to the country's fast-changing needs, we want to make sure we are doing everything we can to keep our stores open and support our team," said Greg Hicks, President and CEO, Canadian Tire Corporation. "Closing our retail stores that are not as essential is the right decision, helping to limit the spread of the virus."

Canadian Tire continues to take precautions for the safety and well-being of employees and customers, such as with the enhanced cleaning of stores, encouraging strong hygiene practices among team members, and making hand sanitizers and wipes available at all workstations and gathering spots, such as lunchrooms and service waiting areas. To help protect and support elderly and more vulnerable customers, many Canadian Tire Associate Dealers are offering reserved shopping hours or setting aside inventory for pick-up.

"During these temporary closures, our customers can still shop our Canadian Tire family of companies online, however, as online orders increase, it may take us longer than usual to ship your items, and we ask for your patience," added Hicks.