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  "docSlug": "207d3ac66ddd",
  "documentTitle": "Canadian Tire Corporation (CTC.A)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
  "documentKindSlug": "activist-deck",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2019-12-05 00:00:00",
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  "notes": "Includes company overview, market data, financial metrics, credit ratings, and segment-specific breakdowns for Retail, REIT, and Financial Services.",
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      "kind": "metric",
      "text": "EBITDA: $1,964",
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      "kind": "paragraph",
      "text": "Canadian Tire (CTS) is a Canadian national retailer of a wide range of automotive, hardware, sports and leisure, and home products. CTC business includes Canadian Tire Retail, Canadian Tire REIT and Canadian Tire Financial Services. CTC was founded in 1922 and is headquartered in Toronto, Ontario.",
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      "kind": "source-note",
      "text": "(1) CTC owns 69.4% of CT REIT. Note: Financial data in millions of Canadian Dollars except per share amounts. Figures LTM as of Q3 2019. Financial Services balances represents Q3 2019 average balances. Source: Company financials",
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      "text": "Retail, Real Estate Investment Trust, Financial Services segment tables",
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      "kind": "title",
      "text": "Canadian Tire At A Glance",
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      "evidence": "The document identifies several problems with Canadian Tire's business model, including its overleveraged and debt-fueled model, deteriorating cash conversion cycle, and intense competition.",
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