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  "docSlug": "207d3ac66ddd",
  "documentTitle": "Canadian Tire Corporation (CTC.A)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2019-12-05 00:00:00",
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  "nDataPoints": 4,
  "notes": "Uses red arrows and callouts to highlight aggressive marketing tactics as evidence of poor credit management.",
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      "kind": "callout",
      "text": "Financing programs and “store cash” rewards at CTC retailers is an aggressive push to increase retail sales",
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      "kind": "callout",
      "text": "Why would a financially stable customer with good credit borrow for a $200 purchase?",
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      "text": "We believe the push of the financing program is the major root of CTC's credit risk and it is evident by the growth of higher risk loans in CTC's portfolio.",
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      "text": "Marketing materials showing 0% interest, 4% back, and 12/24 month payment plans.",
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      "text": "Since launching in April 2018, Triangle Rewards has been an aggressive push to drive traffic to Canadian Tire retailers while increasing the number of credit card receivables and accounts.",
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      "kind": "source-note",
      "text": "Source: Triangle",
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      "text": "Triangle: Aggressive Push To Grow Sales Is The Root Of Credit Problems",
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