TORONTO, April 6 /CNW/ - Canadian Tire Corporation, Limited (TSX: CTC)
(TSX: CTC.a) today announced the release of certain unaudited financial
information, including its Opening Statement of Financial Position as
at January 3, 2010 as well as Restated 2010 Consolidated Financial
Statements for the year ended January 1, 2011, under the International
Financial Reporting Standards, or IFRS. As previously announced,
Canadian Tire will report its first quarter 2011 results for the first
time under IFRS on May 12, 2011.
IFRS is strictly an accounting change and therefore does not affect the
Company's strategy or operations. It does, however, mean that certain
elements of the Statement of Financial Position and results of
operations will be determined differently from those that were
previously reported under Canadian Generally Accepted Accounting
To better understand the impacts this reporting change will have on the
Company's consolidated financial statements, management from Canadian
Tire Corporation will hold a conference call today, which will be
webcast live in its entirety at 2:00 p.m. EDT http://corp.canadiantire.ca/en/investors and will be archived for 12 months.
The restated results will be available prior to the call at http://corp.canadiantire.ca/en/investors.
ABOUT CANADIAN TIRE
Canadian Tire Corporation, Limited (TSX:CTC.a) (TSX:CTC) is one of
Canada's most-shopped general retailers, offering everyday products and
services to Canadians through more than 1,200 retail and gasoline
outlets from coast-to-coast. Our primary retail business categories -
Automotive, Living, Fixing, Playing and Apparel - are supported and
strengthened by our Financial Services division, which offers such
products and services as credit cards, in-store financing, product
warranties, and insurance. Nearly 57,000 people are employed across the
Canadian Tire enterprise, which was founded in 1922 and remains one of
Canada's most recognized and trusted brands.
SOURCE Canadian Tire Corporation, Limited
For further information:
Investors: Karen Meagher, 416-480-8058 firstname.lastname@example.org
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