Canadian Tire Corporation (TSX:CTC), on Thursday, March 10, announced a C$ 3.4 billion investment plan to enhance its omnichannel capabilities and promote long-term growth. The company said this strategy aims to improve customer experiences and sales figures.
As COVID curbs are slowly cooling down, retail companies like Alimentation Couche-Tard (TSX:ATD) could see their business grow.
Keeping this in mind, let us talk about these two TSX retail stocks.
Canadian Tire Corporation (TSX:CTC)
Canadian Tire saw its total sales at C$ 18.26 billion in fiscal 2021, C$ 1.4 billion up from 2020. The retailer’s diluted earnings per share (EPS) jumped C$ 6.07 from 2020 to C$ 18.38 apiece in 2021.
CTC) Q4 FY2021" src="https://kalkinemedia.com/storage/uploads/original/1647017745_622b7f117b2c0_mceclip0.png" style="height:402px; width:649px" title="Canadian Tire (TSX:CTC) Q4 FY2021" />
Stocks of Canadian Tire catapulted a return of almost 58 per cent in the past 12 months. CTC stock closed at C$ 325 apiece on Thursday, March 10.
Alimentation Couche-Tard Inc (TSX:ATD)
Alimentation Couche-Tard, in February this year, announced that it invested nearly C$ 55 million of its Circle K Venture Fund, which was founded in 2020, in start-ups exploring solutions to improve customer experience in stores and beyond.
Stocks of Alimentation closed at C$ 49.18 apiece on Thursday, up by nearly one percent. This retail scrip climbed by over 19 percent in the last year.
Bottom line
Canadian Tire and Alimentation Couch-Tard are working on enhancing customer experiences, which may help strengthen their retail businesses. However, both companies suspended their operations in Russia due to the ongoing Ukraine crisis.
Please note, the above content constitutes a very preliminary observation based on the industry and is of limited scope without any in-depth fundamental valuation or technical analysis. Any interest in stocks or sectors should be thoroughly evaluated taking into consideration the associated risks.
