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Canadian Tire
Canadian Tire Corporation, Limited (doing business as Canadian Tire) is a Canadian retail corporation, headquartered at Canada Square in Toronto, Ontario. It operates department stores, gas stations (Canadian Tire Petroleum), and financial services (Canadian Tire Bank). The company also owns and operates Mark's, PartSource, Sherwood Hockey, Sport Chek, Sports Experts, and the Canadian operations of Party City. It owns the intellectual property of the former Hudson's Bay Company as of 2025[update].
Canadian Tire acquired the Norwegian clothing and textile company Helly Hansen from the Ontario Teachers' Pension Plan in 2018 and sold it in 2025. It participates in the voluntary Scanner Price Accuracy Code managed by the Retail Council of Canada.
On October 24, 1922, John William Billes and Alfred Jackson Billes invested their combined savings of $1,800 in the Hamilton Tire and Garage Ltd. (established in 1909 as the Hamilton Garage and Rubber Company) in Toronto. Hamilton Tire and Garage specialized in buying tires at a discount from manufacturers in the winter then reselling the tires during the busy summer season. The brothers opened a retail store at Yonge and Gould Streets in Toronto, Ontario.
A product focus on tires was emphasized in 1927 with the incorporation of the name Canadian Tire Corporation Limited because, as A.J. Billes said, "...it sounded big". During 1928, the first Canadian Tire catalogues were distributed, consisting of price lists along with road maps.
In 1934, the first official Associate Store was opened in Hamilton, Ontario by Walker Anderson on King Street. In 1944, to fund its growth, Canadian Tire Corporation became a public company and sold 100,000 shares. By 1945, there were 110 Canadian Tire stores. In 1946, an employee stock purchasing plan was implemented to encourage employee loyalty while discouraging unionization.
The first gas bar opened in 1958 at the corner of Yonge and Church Streets in Toronto. Canadian Tire money that gave gas bar customers an in-store discount began the same year. By June 1961, there were 31 locations. The small financial services company Midland Shoppers Credit Limited was purchased in 1968 and renamed Canadian Tire Acceptance, Limited.
Canadian Tire entered the clothing market by acquiring Mark's Work Wearhouse in 2001.
In 2003, CTC established the Canadian Tire Bank, under Canada's Bank Act, from its then-named Canadian Tire Financial Services, Limited, subsidiary along with its Mastercard portfolio, which was later renamed as Canadian Tire Services, Limited, effective January 1, 2015. CTC sold 20% of its Canadian Tire Bank to Scotiabank in 2014; it later repurchased this stake in 2023.
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Canadian Tire
Canadian Tire Corporation, Limited (doing business as Canadian Tire) is a Canadian retail corporation, headquartered at Canada Square in Toronto, Ontario. It operates department stores, gas stations (Canadian Tire Petroleum), and financial services (Canadian Tire Bank). The company also owns and operates Mark's, PartSource, Sherwood Hockey, Sport Chek, Sports Experts, and the Canadian operations of Party City. It owns the intellectual property of the former Hudson's Bay Company as of 2025[update].
Canadian Tire acquired the Norwegian clothing and textile company Helly Hansen from the Ontario Teachers' Pension Plan in 2018 and sold it in 2025. It participates in the voluntary Scanner Price Accuracy Code managed by the Retail Council of Canada.
On October 24, 1922, John William Billes and Alfred Jackson Billes invested their combined savings of $1,800 in the Hamilton Tire and Garage Ltd. (established in 1909 as the Hamilton Garage and Rubber Company) in Toronto. Hamilton Tire and Garage specialized in buying tires at a discount from manufacturers in the winter then reselling the tires during the busy summer season. The brothers opened a retail store at Yonge and Gould Streets in Toronto, Ontario.
A product focus on tires was emphasized in 1927 with the incorporation of the name Canadian Tire Corporation Limited because, as A.J. Billes said, "...it sounded big". During 1928, the first Canadian Tire catalogues were distributed, consisting of price lists along with road maps.
In 1934, the first official Associate Store was opened in Hamilton, Ontario by Walker Anderson on King Street. In 1944, to fund its growth, Canadian Tire Corporation became a public company and sold 100,000 shares. By 1945, there were 110 Canadian Tire stores. In 1946, an employee stock purchasing plan was implemented to encourage employee loyalty while discouraging unionization.
The first gas bar opened in 1958 at the corner of Yonge and Church Streets in Toronto. Canadian Tire money that gave gas bar customers an in-store discount began the same year. By June 1961, there were 31 locations. The small financial services company Midland Shoppers Credit Limited was purchased in 1968 and renamed Canadian Tire Acceptance, Limited.
Canadian Tire entered the clothing market by acquiring Mark's Work Wearhouse in 2001.
In 2003, CTC established the Canadian Tire Bank, under Canada's Bank Act, from its then-named Canadian Tire Financial Services, Limited, subsidiary along with its Mastercard portfolio, which was later renamed as Canadian Tire Services, Limited, effective January 1, 2015. CTC sold 20% of its Canadian Tire Bank to Scotiabank in 2014; it later repurchased this stake in 2023.