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Be the first with the news that moves the market- Canadian Tire (CTC) is expanding its partnership with Petco Health and Wellness Company as a part of its renewed store concept
- Petco products will be available in 90 per cent of Canadian Tire’s locations across the country by the middle of 2023
- Petco is a health and wellness company focused on pets, and has 1,500 care centres across North America
- Canadian Tire (CTC) is down 1.04 per cent, trading at $296.88 per share as of 11:54 a.m. EST
Canadian Tire (CTC) is expanding its partnership with Petco Health and Wellness Company as a part of its renewed store concept.
According to the company, Petco products will be available in 90 per cent of Canadian Tire’s locations across the country by the middle of this year.
Pet owners dominating households
Michael Magennis, Senior Vice President of General Merchandising at Canadian Tire, stated,
“With 60 per cent of Canadian households home to a family cat or dog, a pet is an important product category with strong potential for growth rooted in value, relevance and trusted brands for our customers… Since partnering with Petco in 2018, we have seen double-digit growth in the category with a marked increase in customers shopping the pet category for the first time.”
Petco is a health and wellness company focused on improving the lives of pets. The company operates more than 1,500 pet care centres across North America. The centres offer merchandise, companion animals, grooming, training and a growing network of on-site veterinary hospitals and mobile veterinary clinics.
Continued growth expected for partnership
Petco’s Chief Merchandising Officer, AmyCollege, commented,
“Four years after our teams brought this exciting and innovative concept to pet parents, the continued growth of our partnership speaks to pet parents’ deep confidence in Petco’s pet care expertise… These shop-in-shops will continue to bring innovation to existing Canadian Tire pet parents and attract new customers for years to come.”
Canadian Tire (CTC) is down 1.04 per cent, trading at $296.88 per share as of 11:54 a.m. EST.
