Canadian Tire Corp. Ltd. (CTC) has a strong competitive position in the geographically broad Canadian market, with multiple product and service offerings through its multiple retail banners and subsidiaries. S&P Global Ratings believes the company's unparalleled market coverage includes at least one Canadian Tire store within 15 minutes of 90% of Canadians. With its aim to become Canada's leading retail brand in the next few years, CTC has built a large portfolio of owned brands that span multiple core businesses. In 2018, CTC acquired Oslo-based Helly Hansen, which not only complements existing brands but also provides CTC with the option to expand internationally in the long term. In our view, management's focus on retail operations have enabled all of CTC's
