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  "documentTitle": "Canadian Tire Corporation (CTC.A)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
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  "sourceTypeLabel": "Short seller",
  "presentationDate": "2019-12-05 00:00:00",
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      "text": "U.S. competitors plan to continue growing their presence in Canada. In the past, some U.S retailers have had trouble due to the highly competitive Canadian market dynamics. We view the current and future level of retail competition as a major risk to CTC's business model.",
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      "text": "\"Our business in Canada also continues to perform well. The team is moving quickly to modernize the store base and expand omni-channel capabilities with a focus on gaining greater access to urban markets.\" — C. Douglas McMillon, Walmart; \"In Canada, 1 plus a year [long-term club growth potential]. We thought we were a saturated at 80 in Canada and now we have 101 or 102. So that will keep increasing.\" — Richard A. Galanti, Costco; \"In Canada, we posted negative comp sales for the quarter. Our negative comps was driven in large part by our ongoing RONA integration\" — Marvin Ellison, Lowe's; \"Clearly, there are pressures in Canada from a housing standpoint... We're seeing terrific online growth in Canada as the Canadian customer embraces e-commerce as well.\" — Craig Menear, Home Depot.",
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      "text": "Competition Will Become Worse As U.S Retailers Continue Expansion In Canada",
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