TORONTO, Dec. 9, 2014 /CNW/ - Canadian Tire Corporation, Limited (TSX:CTC,TSX:CTC.a) today applauded the federal government's announcement that it will give the Commissioner of the Competition Bureau new powers to effectively investigate the price discrepancy for consumer goods in Canada compared to the United States.
"We are a Canadian company that wants to see our Canadian customers get the best possible prices on everything we sell. It's frustrating when we're offered products that are much more expensive to buy in Canada than in the U.S. and the rapid expansion of online shopping throughout North America has only shone a brighter light on unexplainable price gaps," said Duncan Fulton, Senior Vice President at Canadian Tire Corporation.
"We are proud to stand up for our customers and applaud the government's action to level the playing field. We have always tried to negotiate the lowest possible prices for our customers and we think the Commissioner will find that most manufacturers are very fair – they play by the rules and don't discriminate against Canada. We also think his work will uncover a small minority of manufacturers who unfairly charge significantly more for their products in Canada. Hopefully just the existence of the Commissioner's mandate will serve to 'auto-correct' some existing price discrepancies," continued Fulton.
Canadian Tire Corporation has pledged its support to the federal government for this initiative so that Canadian consumers can benefit from fair prices.
About Canadian Tire Corporation
Canadian Tire Corporation, Limited, (TSX:CTC.A) (TSX:CTC) or "CTC," is a family of businesses that includes a retail segment, a financial services division and CT REIT. Our retail business is led by Canadian Tire, which was founded in 1922 and provides Canadians with products for life in Canada across its Living, Playing, Fixing, Automotive and Seasonal categories. PartSource and Gas+ are key parts of the Canadian Tire network. The retail segment also includes Mark's, a leading source for casual and industrial wear, and FGL Sports (Sport Chek, Hockey Experts, Sports Experts, National Sports, Intersport, Pro Hockey Life and Atmosphere), which offers the best active wear brands. The nearly 1,700 retail and gasoline outlets are supported and strengthened by our Financial Services division and the tens of thousands of people employed across the Company. For more information, visit Corp.CanadianTire.ca.
SOURCE: CANADIAN TIRE CORPORATION, LIMITED
For further information: Jane Shaw, 416-480-8581, [email protected]