Canadian Tire and its associate dealers have agreed on a new contract to cover the period through the end of 2024.
"The corporation and dealers have worked collaboratively to improve the current contracts and have agreed on terms that reflect the future of retail, the importance of digital channels and technology and reaffirm the strong relationship and expertise of both the corporation and dealers," the company said in a statement.
The significant terms of the new dealer contract were approved by the Canadian Tire Dealers at a meeting on April 17; Canadian Tire did not include those particular terms in its statement. Individual dealers will now sign contracts with the corporation based on the new terms. Implementation of the contracts is expected to begin later this year and continue into 2014.
"Our new contract ensures the relationship between the company and our dealers is focused on the things we both care about serving our customers, being relevant to our communities and growing the company,” said Stephen Wetmore, Canadian Tire president and CEO.
"Our new contract better positions us to excel and grow as a brand and unified enterprise and I believe that our model allows us to serve Canadians uniquely in each community a major differentiator as customers have increasing choices of where to shop," added Dave Deplaedt, president of the Canadian Tire Dealers’ Association and dealer of the Canadian Tire store at 1731 Preston Ave. North in Saskatoon.