It’s ready for second wave of COVID

Article Excerpt

CANADIAN TIRE CORP. (class A non-voting) is a buy. The retailer (Toronto symbols CTC $205 and CTC.A $141; Conservative Growth Portfolio, Consumer sector; Shares outstanding: 60.8 million; Market cap: $8.8 billion; Price-to-sales ratio: 0.7; Dividend yield: 3.2%; TSINetwork Rating: Above Average; www.canadiantire.ca) is in a strong position to cope if Ontario and other provinces force its stores to close again due to a second wave of COVID-19 infections. That’s mainly due to the company’s heavy investments in its online operations. It now aims to process 80,000 Internet orders per day compared to just 5,000 before the pandemic. In addition, Canadian Tire continues to quickly expand the number of stores that offer click-and-collect service. That has strong appeal, particularly during the coming winter, as customers look to get in and out of its stores as quickly as possible to limit their potential exposure to COVID. Canadian Tire class A shares are a buy. buy…