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Canadian Tire Corporation launches $2 billion”True North” transformative growth strategy, including closure of 17 standalone Atmosphere stores

By
Mario Toneguzzi
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Image: Canadian Tire

Canadian Tire Corporation, Limited (TSX:CTC, TSX:CTC.A, CTC or the Company) is launching a new four-year transformative growth strategy, True North, focused on data-driven customer relationships, core retail growth, an expanded Triangle Rewards loyalty system, and focused capital allocation.

It is designed to increase value for customers and generate leading shareholder value above the Company’s historic levels. The strategy will be delivered by a newly designed senior leadership team, and CTC will reorganize from a complex holding company model into a more agile operating company, aggregated to compete and differentiated through its collective customer insights, announced the company in a news release on Thursday.

CTC also announced that, as part of True North, it is optimizing its SportChek portfolio, with new-concept stores and a revised go-to-market strategy for its Atmosphere business. The company will close 17 uncompetitive standalone Atmosphere stores, with 14 sites to be co-located within SportChek stores.

CTC is also expecting to invest more than $2 billion over the next four years in the company.

Greg Hicks
Greg Hicks

“We are an iconic Canadian retailer primed for stronger customer connections and leading shareholder returns,” said Greg Hicks, President and CEO, Canadian Tire Corporation. “In a new era of retail and hyper-scale global competition, we will operate more efficiently and go to market more strategically, harnessing our banners and loyalty system to elevate our scale. Our transformation starts from the strengths that set us apart: we have the highest customer trust, market-leading data, and the vision to know, reward and serve Canadians best.”

True North represents CTC’s next strategic horizon, marking the end of Better Connected which established a springboard for higher performance. The company concluded 2024 with strong earnings, an improved balance sheet, and increased customer loyalty, explained Canadian Tire.

True North initiatives designed to accelerate retail growth and loyalty expansion

“True North entails dozens of strategic initiatives designed to accelerate retail growth and deliver improved financial performance. This includes investments in omnichannel network expansion and new data analytics that will be a catalyst for growing market share and expanding CTC’s total addressable market,” it said.

“The Company will accelerate the Triangle Rewards loyalty system through its privileged first-party data, enabled by technology and AI. The loyalty system will expand with more personalized member value, additional brand partners that issue Canadian Tire Money beyond CTC stores, and a new retail-focused bank strategy to acquire and engage more Triangle Mastercard holders.

“An expanded loyalty system will fortify CTC’s connections to its best customers and more systematically inspire members to shop at more of its stores and more often. True North initiatives are designed to increase Triangle Rewards loyalty membership and loyalty sales across banners.”

New operating model designed for agility and scale

To execute True North, CTC said it will reorganize, converting from a holding company model of individual businesses focused on products to an operating company universally focused on customers. This new operating model aggregates CTC’s multiple banners, systems, and data, resulting in a density of customer insights and competitive scale that no single banner could achieve alone.

“The Company will continue to strengthen the customer-facing value propositions of each individual banner brand, but will work to eliminate siloed, redundant and costly back-office processes and systems. The new operating model is designed for greater agility and speed, with common enterprise-wide capabilities and platforms built and deployed once – such as the Company’s recent conversion of all major banner websites onto a single digital platform. A more-unified CTC will continue its technology and AI implementations, reinventing ways of working to improve the speed of analytics, decisions, information and workflows company-wide. This will result in both increased efficiency and more strategic customer engagement across the banners,” it noted.

PHOTO: CANADIAN TIRE

Strengthened leadership focused on customers, retail execution, and value creation 

The company said True North will be delivered by a newly-designed senior leadership group of existing and added executive talent, with new roles announced today to reflect three priorities: Disciplined management of several significant multi-year transformation initiatives and related value-creating capital allocation will be governed by a new transformation office led by a new Chief Transformation Officer; Core retail business execution and growth will be led by a new Chief Operating Officer within a unified operating model for all banners, including Canadian Tire, SportChek, and Mark’s; Customer-focused retail, product, marketing and loyalty strategies will be centralized and led by a new Chief Commercial Officer. Various corporate teams within CTC will be reorganized to reflect this structure and the underlying priorities.

  • Susan O’Brien is appointed EVP & Chief Transformation Officer. A 17-year company veteran, she was most recently EVP & Chief Brand and Customer Officer. Her past leadership of Triangle Rewards and experience building new customer capabilities will ensure transformation initiatives stay true to customer-centricity.
  • TJ Flood is appointed EVP & Chief Operating Officer, leading CTC’s newly centralized banners, including Canadian Tire, Mark’s and SportChek. A 20-year company veteran, he was most recently EVP & President, Canadian Tire Retail and previously President, SportChek. This experience will enable the shift to centralized processes and cross-banner efficiencies.
  • Following a comprehensive search, the Company will soon appoint an EVP & Chief Commercial Officer responsible for growing Triangle Rewards, customer insights and core retail processes that enable horizontal, data-driven strategies for great customer experiences.
  • Darren Myers, CTC’s new EVP & Chief Financial Officer, joins April 1 as announced here. He is a three-time CFO at Canadian companies, previously responsible for large-scale transformations in retail and other sectors.
  • CTC’s executive leadership team is otherwise detailed here.

“This team has the experience and mandate to deliver transformational initiatives and results,” said Hicks. “As we knock down unnecessary legacy siloes and systems, we are combining the best of our business and all of our customer knowledge to rally around a unified strategy to help make life in Canada better. Together, our combined scale and our insights will set us apart from competitors big and small.”

Enhanced capital allocation and streamlined operating model

Canadian Tire said it will enhance capital allocation through prioritizing the highest-returning investments and assets.

“This is evident in the Company’s recent portfolio moves: The decision to retain full ownership of Canadian Tire Financial Services with a strategy to maximize its retail-driving capabilities; unlocking shareholder value with the February 19, 2025, announcement of the agreement to sell global performance brand Helly Hansen; and the monetization of redundant real estate assets,” it said.

Going forward, and assuming the completion of the sale of Helly Hansen, CTC said it will extend its balanced approach to capital allocation, including the following:

  • It will prioritize investments to transform its core Canadian retail business, while maintaining flexibility to address market uncertainty. In this context, CTC expects total operating capital expenditures in 2025 to be towards the upper end of its previously disclosed range of $525 million to $575 million. This will include capital investments in omnichannel customer experience, like the continued modernization of Canadian Tire stores. The Company also plans increased investments in Mark’s, to capitalize on its record of accretive returns and emerging market-share opportunities in the casual apparel sector.
  • It will return up to $400 million to shareholders through share repurchases in 2025, doubling its previously disclosed 2025 intention of up to $200 million.
  • It will use $200 million of proceeds to reduce debt, re-paying medium-term notes ahead of their 2026 maturity.

CTC expects to invest more than $2 billion over four years starting in 2025; expense savings begin in 2025 with $100 million run rate expected to start in 2026

“Our strategy, structure and initiatives begin in 2025, and improved value creation is expected in the years ahead,” explained Hicks. “We look forward to detailing our early progress and longer-term returns with greater precision as they begin to take shape. In the meantime, we have begun to put capital behind our conviction and expect to invest more than $2 billion over the next four years, driving the prosperity of our company and, by extension, our country.”

Canadian Tire said it expects increased transformation and advisory costs in relation to its four-year strategy, including the following:

  • Operating expenses will increase by $60 million in 2025, primarily for IT investments to enable transformation initiatives.
  • One-time charges of approximately $85 million in transformation and restructuring costs, including severance, as well as closure costs for Atmosphere stores. These costs will be recorded and normalized in the first half of 2025. They are expected to deliver annualized operating expense savings of $100 million starting in 2026.

Canadian Tire banners include Party City and PartSource; Mark’s; SportChek; Hockey Experts; Sports Experts and Atmosphere. CTC also operates a retail petroleum business and a Financial Services business and holds a majority interest in CT REIT.

Understanding ‘Made in Canada’ Labels Amid Trade Tensions

By
Craig Patterson
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At Loblaw City Market, Manulife Centre in Toronto. Photo: Craig Patterson

With U.S. President Donald Trump’s 25% tariffs on all Canadian goods now in effect, Canadian consumers are doubling down on their commitment to buying homegrown products. The Canadian government has responded with retaliatory tariffs on $30 billion worth of American imports, further fueling the momentum behind the “Buy Canadian” movement.

But with a surge in demand for locally made goods, a crucial question arises: What does it truly mean when a product carries a “Product of Canada” or “Made in Canada” label? Can consumers trust a Maple Leaf symbol to guarantee a product’s Canadian origins? Understanding the nuances of these labels is essential for shoppers aiming to support domestic industry and avoid misleading claims.

Product of Canada: What It Really Means

The Canadian Food Inspection Agency (CFIA) provides clear guidelines on what constitutes a “Product of Canada.” This label signifies that all or nearly all the food, processing, and labour involved in making the product are Canadian. While small amounts of imported ingredients, such as spices or additives, may be present, the vast majority of the product’s composition must originate from Canada.

For non-food items, the Competition Bureau states that the “Product of Canada” designation applies only when at least 98% of the total costs of production or manufacturing have been incurred in Canada. This ensures that the label is reserved for products that are overwhelmingly Canadian in origin.

Made in Canada: A More Flexible Standard

The “Made in Canada” label carries a different set of criteria. According to the CFIA, this designation applies when the last significant transformation of the product occurs in Canada. For example, if raw ingredients from multiple sources are combined to create a finished food product—such as pizza made from imported cheese, dough, and sauce—the final assembly qualifies as a substantial transformation.

For non-food items, the Competition Bureau requires that at least 51% of production or manufacturing costs be incurred in Canada for a product to carry the “Made in Canada” label. Additionally, businesses must disclose whether the product is made in Canada from imported components, domestic ingredients, or a combination of both.

The Use of “Canadian” on Packaging

The term “Canadian” is regulated in a manner similar to “Product of Canada.” When a food item is labeled as “Canadian,” it means that all or virtually all major ingredients, processing, and labour involved in its production are Canadian. If a frozen lasagna is labeled as “Canadian,” consumers can be assured that it meets the strict criteria for “Product of Canada.”

Similarly, when a package states “Canadian Cheddar Cheese,” the cheese itself must be made entirely from Canadian ingredients and undergo processing within the country.

100% Canadian: The Gold Standard

For food or ingredients to bear the “100% Canadian” claim, the CFIA mandates that every element of the product, including processing and labour, be entirely Canadian. This label leaves no room for imported components, making it the most transparent designation for consumers seeking purely Canadian products.

The Maple Leaf Symbol: A Misleading Marker?

While the iconic Maple Leaf is often used to signify Canadian products, its presence on packaging does not necessarily mean that a product is wholly or even partially Canadian. The CFIA recommends that companies include a domestic content statement alongside the Maple Leaf to clarify the product’s origin, but compliance is not mandatory. As a result, shoppers must look beyond the symbol and examine product labels carefully.

At Loblaw City Market, Manulife Centre in Toronto. Photo: Craig Patterson

Additional Labeling Terms Explained

Produced or Manufactured in Canada: The Competition Bureau considers phrases like “Produced in Canada” and “Manufactured in Canada” to align with the “Made in Canada” designation, meaning that products bearing these labels must comply with the same criteria of substantial transformation and cost thresholds.

Local Products: When a company advertises a product as “local,” CFIA regulations require that it be produced in the province or territory where it is sold or within 50 km of the originating region if crossing provincial borders. This ensures that consumers purchasing locally branded goods are genuinely supporting nearby businesses.

Industry-Specific Labels: Dairy, Meat, and Seafood

The Blue Cow Logo: In the dairy aisle, consumers may notice the blue cow logo, which is overseen by the Dairy Farmers of Canada. This mark signifies that the product is made entirely with Canadian milk and milk ingredients, ensuring its authenticity.

Meat and Poultry: Meat products labeled as “Product of Canada” must come from animals that were raised and slaughtered in Canada. For feeder cattle, animals must have spent at least 60 days in Canada before being processed domestically.

Fish and Seafood: For wild fish and seafood to carry the “Product of Canada” label, they must be caught by Canadian vessels in domestic waters and processed in Canada using Canadian ingredients. In the case of farmed seafood, both the farm and processing facility must be located within Canada.

Dairy and Eggs: Eggs and dairy products from animals raised in Canada qualify for “Product of Canada” status, even if the livestock was originally imported, provided the eggs were laid and milk was collected in Canada.

The Bottom Line: Navigating “Buy Canadian” Claims

As Canadians increasingly turn to homegrown goods in response to trade tensions, understanding product labeling is more critical than ever. While terms like “Product of Canada” and “Made in Canada” offer guidance, shoppers should remain vigilant in verifying a product’s true origins by reading the fine print.

With transparency varying across industries, consumer awareness remains the best tool for ensuring that purchases genuinely support the Canadian economy. The “Buy Canadian” movement is stronger than ever, but a well-informed approach is key to making meaningful contributions to local businesses and manufacturers.

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New Upscale Retail and Dining Coming to Yorkville Village

By
Craig Patterson
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Avenue Road entrance to Yorkville Village in Toronto. Photo: First Capital REIT

Yorkville Village, Toronto’s upscale shopping destination, continues to evolve with new tenant additions and retail opportunities. Landlord First Capital REIT has been actively reshaping the tenant mix to create a dynamic community hub, blending luxury retail, wellness, and dining. The ongoing transformation underscores the mall’s commitment to enhancing the shopping experience and solidifying its status as a premier retail destination in the city.

Several prominent retailers and brands have recently opened at Yorkville Village, bringing a diverse array of shopping and lifestyle options. Furniture retailer Ethan Allen debuted a 4,138-square-foot store on February 10, offering high-end home furnishings and interior design services.

Ethan Allen store at Yorkville Village. Photo: Craig Patterson

Luxury jeweler White Carat Co. & Franky Diamond has also joined the retail lineup, with a newly opened 1,800-square-foot boutique. The locally owned jeweler, known for its custom designs, bridal collections, and celebrity clientele, is finalizing its store setup.

In the automotive sector, Grand Touring Automobiles has converted the former Polestar space to an exclusive exhibit of small off-road vehicles from prestigious brands such as Bugatti, Ferrari, and Aston Martin. This prime Avenue Rd facing, 1,832 square foot space, will be available for lease as of December 2025.

Other notable additions include bridal retailer Estrelle Bridal, which opened its doors several months ago on the second level next to White Carat Co., and skincare brand Novado by Voupré, which has launched a dedicated retail space on the second level.

Estrelle Bridal store at Yorkville Village. Photo: Craig Patterson
Central oval at Yorkville Village in Toronto. Photo: First Capital REIT

Luxury menswear retailer Via Cavour recently completed renovations, enhancing its premium boutique experience. Meanwhile, fashion retailer TNT The New Trend consolidated into a single 17,000-square-foot space on one level in the summer of 2024, reinforcing its presence in the luxury fashion segment.

In the wellness space, Supernatural, a new holistic health concept, is set to open in the former SoulCycle location with direct frontage onto Avenue Road. To build anticipation, a pop-up location for Supernatural also launched on the mall’s second level, adjacent to Equinox.

Novado at Yorkville Village. Photo: Craig Patterson

Prime Retail Opportunities Available

For businesses looking to establish a presence in Yorkville, several prime retail spaces are currently available. FCR is delivering a large full service sit-down flagship restaurant opportunity with both exterior access off of Hazelton Ave as well as interior access from the shopping centre. First Capital REIT is currently reviewing options for this high-demand offering.

Additionally, two retail spaces near Whole Foods on the second level are open for lease. One space measures 1,400 square feet, while the second spans 2,766 square feet, which leasing director Leah Feeley suggests could be well-suited for a yoga or pilates studio.

Whole Foods at Yorkville Village in Toronto. Photo: First Capital REIT
Avenue Road exterior of Yorkville Village in Toronto. Photo: First Capital REIT

Upcoming Developments and a New Entrance

A significant change is on the horizon for Yorkville Village, as a new entrance is planned for Yorkville Avenue. This entrance will be part of the redevelopment of the 138 Yorkville Avenue ultra-luxury condominium project, which will integrate with the shopping centre.

Unlike the previous entrance leading to the lower-level food court, the new entryway will welcome guests directly to the second level of the mall, improving accessibility and flow.

Future luxury retail at 138 Yorkville Avenue. Image: First Capital REIT
Future luxury retail at 138 Yorkville Avenue. Image: First Capital REIT

Yorkville Village’s Current Tenant Mix

Yorkville Village is home to an array of high-profile tenants, catering to the neighbourhood’s affluent clientele. The centre features a large Equinox gym, a Rexall pharmacy, and a Whole Foods Market, which serves as the flagship location for the grocery retailer in Canada.

Additional tenants include womenswear retailers Andrews, Sentaler, Sarah Pacini, Copine Paris, Judith & Charles and Maska, home and lifestyle boutique Teatro Verde, beauty retailer Radford Beauty, and luxury menswear store Via Cavour, among others.

Oval at Yorkville Village. Image: First Capital REIT
Teatre Verde at the Hazelton Ave entrance to Yorkville Village. Image: First Capital REIT

A Look Back at Yorkville Village’s Transformation

Yorkville Village, originally known as Hazelton Lanes, has undergone substantial transformations since its inception in 1976. Initially conceived as a luxury shopping destination, the mall underwent a major expansion in 1988-1989, tripling in size to accommodate more high-end retailers.

In 2011, First Capital REIT acquired the property and embarked on a comprehensive redevelopment plan to modernize the aging complex. The rebranding to Yorkville Village was officially announced on January 25, 2016, marking a new chapter for the shopping centre.

The redevelopment introduced a striking double-height glass façade along Avenue Road and a new entrance from Yorkville Avenue, making the centre more inviting to pedestrians. A sky-lit atrium was also created, drawing inspiration from the former outdoor ice rink that once occupied the space, serving as a gathering area for events and community engagement.

With a continually evolving tenant mix, strategic leasing opportunities, and upcoming infrastructure improvements, Yorkville Village remains a vital shopping destination in Toronto’s prestigious Yorkville neighborhood. The mall’s blend of luxury retail, health and wellness offerings, and high-end dining experiences continues to attract both local shoppers and international visitors, reinforcing its reputation as a premier lifestyle destination.

Leasing inquires:
Leah Feeley, Director of Leasing: Phone: 647-202-9386 Email: Leah.feeley@fcr.ca

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Female founders drive Canada’s small business growth: GoDaddy

By
Mario Toneguzzi
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Photo by Ketut Subiyanto
Photo by Ketut Subiyanto

Ahead of International Women’s Day 2025 (March 8), GoDaddy has released new data to highlight the impact of female founders on Canada’s small business economy.

Figures from Venture Forward – GoDaddy’s research initiative which analyses over 770,000 Canadian small businesses with 0-9 employees – show that 43% are run by women, and 48% of these female-led businesses were started in the last five years, said the company.

“Despite varying outlooks on the current Canadian economy, with only 35% of female founders expressing optimism, they are more bullish about their own business’ prospects. Seven in ten (70%) are optimistic about their companies over the next six months, and 29% plan to hire new staff in the next year,” said GoDaddy.

“Canadian women entrepreneurs are making their mark right now, with over one in four women (26%) the primary income earner for their household. One third (33%) say their small business turns over more than $5,000 revenue in an average month.”

GoDaddy said about three fifths (59%) say becoming a small business owner has enhanced their quality of life, offering a sense of fulfilment and empowerment with the opportunity to pursue their passion.

Female founders are at the forefront of the AI revolution, with almost half (46%) agreeing that the technology will help them compete with larger, better-resourced companies in the next year. Many are already using AI tools to free up time and streamline their business operations. For example, Canadian women are using AI for tasks such as writing content (80%), summarizing information or text (49%), and generating recommendations or strategies for their marketing or operations (45%), added the company.

Monique Joustra, Founder and Owner of NAIL FIX in the 6IX

Monique Joustra, founder and owner of nail salon NAIL FIX in the 6IX in the Greater Toronto Area, said: “I started my nail salon venture with just one location in 2018. Through unwavering commitment, I was able to build a talented team and loyal client base – and I’m proud to say we now have three salon locations and an Academy. What’s more, I have been able to recruit and train a fantastic team of talented nail professionals. It’s extremely rewarding to know my business can have a positive impact on the local community and economy.

“To any aspiring female entrepreneurs: don’t be afraid to believe in yourself, know your value, and take risks to follow your passion. The rewards are so worth it.”

Young Lee, GoDaddy Canada market lead, said: “The theme for International Women’s Day 2025 is about accelerating action. By shining a light on the successes of Canada’s female founders, that’s exactly what we hope to achieve. These women are contributing to local economies, creating jobs and supporting families. 

Young Lee
Young Lee

“A growing era for women entrepreneurs inspires other women what’s possible. Advancements in digital technology and AI-powered solutions like GoDaddy Airo® are removing barriers and empowering a new generation to turn dreams into thriving businesses. From domain names to designing a logo and creating social media content, the barriers-to-entry are lower than ever before.”

GoDaddy helps millions of entrepreneurs globally start and scale their businesses. People come to GoDaddy to name their idea, build a website and logo, sell their products and services, and accept payments.

Venture Forward is a multi-year research initiative, which analyzes data from over 770,000 Canadian small businesses with 0-9 employees – conducted by GoDaddy to quantify the impact of these businesses on the Canadian economy and their local communities.

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The Unscented Company Expands with B Corp and Retail Growth

By
Craig Patterson
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The Unscented Company. Photo: Pété Photographie

Montreal-based The Unscented Company, led by founder and CEO Anie Rouleau, continues to revolutionize the home and body care industry with a commitment to sustainability, simplicity, and transparency. With its latest B Corp certification score of 101.7, the company solidifies its reputation as a leader in eco-friendly business practices while expanding its retail footprint across Canada and into the United States.

Founded in 2016, The Unscented Company was born from Rouleau’s vision of providing high-quality, fragrance-free home and body care products while addressing the plastic waste crisis. “As much as I love fragrances, I knew I wanted to create a line of products that were natural, biodegradable, exclusively fragrance-free, and designed to reduce our plastic footprint,” said Rouleau.

Anie Rouleau

The company’s commitment to sustainability extends beyond just removing scents from its products. By focusing on refillable packaging and solid, waterless alternatives, The Unscented Company has significantly reduced single-use plastics, eliminating over 1.8 million bottles from circulation in 2024 alone.

The B Corp Advantage

Achieving a B Corp certification is no small feat, and Rouleau sees it as a crucial pillar of her business. “B Corp certification is the most comprehensive way to certify a company based on its values,” she explained. “It’s not just about product quality; it’s about governance, employees, community impact, and environmental stewardship.”

The B Corp assessment evaluates companies on a 200-point scale, with 80 points required for certification. The Unscented Company’s latest score of 101.7 is a testament to its dedication to social and environmental responsibility. “As we grow, the certification process becomes more challenging. B Corp keeps raising the bar, ensuring that businesses continuously improve their impact,” Rouleau noted.

Celebrating B Corp milestone. Photo: The Unscented Company

Expanding Product Lines and Market Reach

From its initial lineup of household cleaning products, The Unscented Company has expanded into body care, hair care, baby care, and even pet care. “We now offer a full routine of unscented products, from body soap to lotion to laundry detergent,” said Rouleau.

Looking ahead, the company plans to enhance its product lines further. “We’re not going into cosmetics, but we will expand into facial care and men’s grooming, including beard and shaving products,” Rouleau shared. The brand is also set to introduce specialized hair care solutions for curly hair and volumizing needs in 2026.

Despite the growing product assortment, Rouleau remains committed to keeping the catalog streamlined. “We don’t want to have 777 SKUs. Our mission is to simplify lifestyles and reduce environmental impact,” she emphasized.

Retail Expansion and Strategic Growth

The Unscented Company’s retail presence has grown significantly, with distribution in major Canadian retailers like Metro, Sobeys, Whole Foods, and Loblaws. “We also have mass-market placements at Canadian Tire and independent stores across the country,” Rouleau said. The brand is now available in 6,000 to 8,000 retail points in Canada and is expanding in the U.S., where it has secured national listings with Sprouts, Wegmans, and Hannaford.

Rouleau credits her Canadian roots for the company’s success. “Retailers are prioritizing Canadian-made products more than ever. HomeSense, Loblaws, and Canadian Tire are all putting more emphasis on Canadian goods, which is great for us.”

The Unscented Company. Photo: The Unscented Company. Photo: Valérie Paquette

Navigating Trade Challenges

Despite expansion success, the company is mindful of potential trade barriers, particularly concerning U.S. tariffs. 

“We have a contingency plan in place,” Rouleau said. “Eighty percent of our products are made within 500 kilometres of our headquarters in Montreal, minimizing cross-border dependencies. If tariffs increase, we’ll work with retailers to adjust pricing and promotions accordingly.”

She remains optimistic about navigating the shifting trade landscape. “Business is business. If a Canadian buys, a Canadian works. If an American buys, an American works. We just need to be strategic.”

A Mission-Driven Future

Beyond business growth, Rouleau is committed to maintaining the integrity of The Unscented Company’s mission. “We’re not doing this for marketing or labels. We’re doing this to build a company on strong values, ensuring long-term sustainability,” she stated.

Her efforts have not gone unnoticed. The Unscented Company has been listed among Canada’s fastest-growing companies by The Globe and Mail for four consecutive years. Additionally, Rouleau has emerged as a champion for sustainable entrepreneurship, serving as an ambassador for the B Corp movement and mentoring young female entrepreneurs.

“We’re building something bigger than just a product line. We’re proving that sustainability and profitability can go hand in hand,” Rouleau concluded.

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Alberta lashes back at Trump’s tariffs with initiatives promoting Canadian and Albertan goods and services

By
Mario Toneguzzi
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Danielle Smith
Danielle Smith

As part of its non-tariff retaliatory measures, Alberta announced it is altering its procurement practices to ensure its government, as well as agencies, school boards, Crown corporations and municipalities, purchase their goods and services from provincial companies, Canadian companies or countries with which Canada has a free trade agreement that is being honoured.  

The government has also directed Alberta Gaming, Liquor and Cannabis to suspend the purchase of U.S. alcohol and video lottery terminals (VLTs) from American companies until further notice. This will ensure provincial and Canadian brands take priority in restaurants, bars and on retail shelves.

Danielle Smith
Danielle Smith

“I will always put the best interests of Alberta and Albertans first. These non-tariff actions are measured, proportionate and put an emphasis on defending Alberta and Canada against these economically destructive tariffs imposed by U.S. President Donald Trump, while breaking down restrictive provincial trade barriers so we can fast-track nation building resource projects and allow for the unrestricted movement of goods, services and labour across the country,” said Alberta Premier Danielle Smith.

“I understand this is an uncertain time for many Albertans, and our government will continue to do all it can to prioritize Alberta’s and Canada’s world-class products and businesses as we face this challenge together. I also look forward to working with my provincial counterparts to help unite Canada and ensure free and fair trade throughout our country.”

Dale Nally
Dale Nally

“We are committed to putting Canadian businesses first. By suspending the purchase of U.S. produced alcohol, slot machines and VLTs, we are ensuring that Alberta and Canadian brands take priority in our restaurants, bars and retail stores. We will continue to take bold steps to support local industries and strengthen our economy,” said Dale Nally, Minister of Service Alberta and Red Tape Reduction.

To encourage the purchase of stock from vendors in the province, Canada and other countries with which Canada has a free trade agreement, the government said it will help all provincial grocers and other retailers with labelling Canadian products in their stores. In the coming weeks, the government will augment these efforts by launching a “Buy Alberta” marketing campaign. Spearheaded by Minister of Agriculture and Irrigation RJ Sigurdson, this campaign will remind Albertans of their options for local food and the importance of supporting Alberta’s agriculture producers and processors, said the government.

RJ Sigurdson
RJ Sigurdson

“Alberta’s agriculture producers and processors are the best in the world. Although these U.S. tariffs are incredibly concerning, this “Buy Alberta” campaign will put a spotlight on Alberta’s farmers, ranchers and agri-food businesses and support Albertans in choosing goods from right here at home,” said RJ Sigurdson, Minister of Agriculture and Irrigation.

Building on Alberta’s reputation as a leader in removing barriers to trade within Canada, Alberta’s government will continue to push other provinces to match our ambition in providing full labour mobility and eliminating trade barriers through work like mutual recognition of regulations. This will allow for goods, services and labour from other provinces to flow into and out of Alberta without having to undergo additional regulatory assessments, said the government.

Matt Jones
Matt Jones

“While no one wins in a tariff war, this situation underscores the need to develop Canada’s trade infrastructure and the diversification of our trading partners and could be the catalyst to unlocking Canada’s true potential. As we look at how best to support Albertans and our businesses, we must also work to reduce internal trade and labour mobility barriers while expanding markets for Alberta energy, agricultural and manufactured products into Europe, Asia, the Americas and beyond. Albertans and Canadians are counting on us,” added Matt Jones, Minister of Jobs, Economy and Trade.

Alberta’s government said is also focused on doubling oil production. With U.S. tariffs in place on Canadian energy products, Alberta is looking elsewhere for additional pipeline infrastructure, including east and west, in order to get its products to new markets.

Alberta’s government said it will continue to engage with elected officials and industry leaders in the U.S. to reverse these tariffs on Canadian goods and energy and rebuild Canada’s relationship with its largest trading partner and ally.   

The U.S. is Alberta’s – and Canada’s – largest trading partner. Alberta is the second largest provincial exporter to the U.S. after Ontario. In 2024, Alberta’s exports to the U.S. totalled C$162.6 billion, accounting for 88.7 per cent of total provincial exports.

Energy products accounted for approximately C$132.8 billion or 82.2 per cent of Alberta’s exports to the U.S. in 2024. About 10 per cent of liquor products in stock in Alberta are imported from the United States. U.S. products represent a small minority of the beer and refreshment beverage categories; however, a significant number of wines originate in the U.S. In 2023-24, about $292 million in U.S. liquor products were sold in Alberta.

Air Canada welcomes Michelin-Starred Chef Masaki Hashimoto to culinary panel

By
Mario Toneguzzi
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Air Canada has announced the addition of Michelin-starred Chef Masaki Hashimoto to its culinary panel. (CNW Group/Air Canada)

Air Canada has announced the addition of Michelin-starred Chef Masaki Hashimoto to its prestigious culinary panel. Chef Hashimoto, who owns the renowned Kaiseki Yu-zen Hashimoto restaurant in Toronto, is celebrated for his expertise in Kaiseki, a traditional multi-course Japanese dining art. His exclusive dishes debuted on March 1 in Air Canada Signature Class, available on all flights between Canada and Japan.

Chef Hashimoto’s culinary creations will be featured on Air Canada’s Signature Class menu for flights between Canada and Japan, showcasing a thoughtfully curated selection of traditional Japanese ingredients. A rotating menu will include six new recipes each year, with dishes such as sautéed lotus root (Zensai), sesame tofu with wasabi sauce (Komono), and a beef sukiyaki main course with tofu, scallions, napa cabbage, and miso soup. The meals will culminate in a brunch casserole served before landing.

Scott O'Leary
Scott O’Leary

“We are proud to present Chef Hashimoto’s exceptional culinary artistry in our Signature Class experience,” said Scott O’Leary, Loyalty and Product at Air Canada. “His journey and dedication to Kaiseki cuisine have enriched Canada’s culinary landscape, and we are honoured to celebrate this onboard.”

In addition to his dishes, a premium sake pairing will be offered to complement the meals. The featured sake, Ninki-ichi Junmai Daiginjo Gold, is selected by Chef Hashimoto’s son, Kei Hashimoto, a certified sake sommelier. Crafted from Gohyakumankoku rice, the sake boasts a clean, crisp character with floral and fruity notes.

Masaki Hashimoto
Masaki Hashimoto

Chef Hashimoto expressed his excitement for the collaboration: “It has always been a lifelong dream of mine to bring an authentic Japanese in-flight dining experience to travellers. Partnering with Air Canada is truly an honour for me, as it brings together the two places I now call home—Japan and Canada. This collaboration allows us both to bridge the rich cultural landscapes of each country and celebrate our shared values of care, respect, and connection.”

Beginning in the spring, Air Canada will further enhance the dining experience with traditional dishware and tray presentations curated by Chef Hashimoto in partnership with Noritake dishware, featuring Japanese artwork.

Chef Hashimoto’s expertise in Kaiseki cuisine has earned him global recognition, with his Toronto-based restaurant receiving a Michelin star for three consecutive years. A seasoned culinary artist with over 35 years of experience, Chef Hashimoto has spent decades mastering traditional Japanese dining techniques, starting with over 15 years of training in some of Japan’s most esteemed kitchens.

Air Canada’s commitment to enhancing its in-flight experience is underscored by this partnership with Chef Hashimoto, building on its extensive food and beverage upgrades. The airline introduced over 100 new dishes in 2024 as part of its largest-ever menu upgrade, emphasizing globally inspired cuisine.

Chef Hashimoto’s dishes are now available on Air Canada’s Signature Class menu for all flights between Canada and Japan, on routes including:

  • Vancouver to Narita: daily flights
  • Vancouver to Osaka: four weekly flights
  • Toronto to Narita: daily flights
  • Toronto to Haneda: daily flights
  • Toronto to Osaka: three weekly flights
  • Montreal to Narita: daily flights

This collaboration reflects Air Canada’s ongoing dedication to offering unparalleled culinary experiences, enhancing its reputation as a leader in global air travel, it said.

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KPMG in Canada warns of increased fraud and cybersecurity risks amid changes to supply chains due to tariffs

By
Mario Toneguzzi
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Photo by cottonbro studio
Photo by cottonbro studio

As Canadian businesses adjust their supply chains in response to the recent implementation of 25% across-the-board tariffs on Canadian goods, experts from KPMG in Canada are urging businesses to be vigilant against rising fraud and cybersecurity risks.

A recent KPMG survey revealed that nearly half (44%) of Canadian businesses are already reconfiguring their supply chains to divert U.S.-bound exports through third-party countries, while another 44% are exploring this option. However, these changes could expose businesses to numerous risks, particularly when engaging new suppliers.

Myriam Duguay
Myriam Duguay

According to Myriam Duguay, Partner and National Forensic Leader at KPMG in Canada, “With U.S. tariffs now in place for Canadian exporters, many businesses might rush to switch suppliers, and in doing so, they might not do the rigorous due diligence that’s needed to reduce third party risks.” She adds, “Businesses must be vigilant about engaging new suppliers that make illegitimate or overstated claims about their capabilities.”

Hartaj Nijjar
Hartaj Nijjar

Additionally, new suppliers could introduce significant cybersecurity concerns. As businesses shift their supply chain models, they may inadvertently increase their vulnerability to security breaches. Hartaj Nijjar, KPMG in Canada’s National Cybersecurity Leader, explains, “If the new suppliers do not have robust cybersecurity measures in place, they could become a weak link in an organization’s supply chain, potentially leading to data breaches.” Nijjar further warns, “Businesses should also be aware of fake suppliers that appear legitimate but are actually threat actors in disguise. This is becoming more prevalent now with the rise of AI-powered deepfakes.”

To mitigate these risks, KPMG’s forensic and cybersecurity specialists recommend Canadian businesses consider the following strategies when changing suppliers:

  1. Supplier Due Diligence: Conducting integrity due diligence is essential. This includes verifying the legitimacy, financial stability, and reputation of new suppliers to avoid fraudulent partnerships.
  2. Contractual Risks: New supplier contracts should be thoroughly reviewed for hidden clauses or misrepresentations to avoid fraud and ensure fairness in business agreements.
  3. Payment Fraud: Changes in suppliers may introduce new payment processes, increasing the risk of invoice fraud. Implementing strict invoice verification processes can help reduce these risks.
  4. Supply Chain Visibility: A reconfigured supply chain may reduce visibility, making it harder to track goods and payments. Using technologies such as AI-powered digital twins or blockchain can improve transparency and traceability.
  5. Internal Controls: Updating and reinforcing internal controls after changes in suppliers and supply chain configurations is crucial to preventing fraud.
  6. Cybersecurity Risks: Organizations should conduct risk assessments on new suppliers to ensure they have robust cybersecurity measures in place before onboarding them.
  7. Deepfake Risks: As deepfakes become more common, businesses must invest in verification technologies and train employees to identify potential risks from fake suppliers.
  8. Employee Training: Training employees, particularly in supply chain and accounting departments, to recognize fraud and cybersecurity risks is essential for early detection.
  9. Regulatory Compliance: Businesses must ensure that new suppliers comply with necessary regulations to avoid legal issues and potential fraud.

Duguay emphasizes, “While changing suppliers and reconfiguring supply chains can help businesses mitigate the added cost of tariffs, they need to be aware of the associated fraud and cybersecurity risks. Implementing robust due diligence, maintaining strong internal controls, and ensuring compliance with regulations can help mitigate these risks.”

For more information on fraud prevention and resources, businesses can visit KPMG Canada’s Fraud Prevention Page.

Tune in to KPMG in Canada’s upcoming DX Coffee Chat, Outsmarting Fraud in a Digital World: Outsmarting fraud in a digital world Registration

For more resources on U.S. tariffs, visit: Navigating tariffs – KPMG Canada

Canadian Retail News From Around The Web For March 6, 2025

By
Retail Insider
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Canadian Retail News From Around The Web

News at a Glance

Retail Insider is streamlining its Canadian retail news from around the web to include a handful of top news stories that can be viewed quickly during the day. Here are the top stories from the past 24 hours.

The trade war is here. You’ll notice it at the grocery store first (CBC)

Shoppers will see some food prices rise because of tariffs, but not all at once (Western Investor)

Jack Daniel’s maker says Canada pulling US alcohol off stores ‘worse than tariff’ (Reuters)

Why tariff-related price hikes on U.S. wine could take a while (BIV)

Complaints about food mislabelled as products of Canada rising: CFIA (CityNews)

Tariff-driven patriotism on the rise: Survey (Grocery Business)

Quebec food prices expected to climb and variety to shrink as trade war escalates (CBC)

Canadian Stylists On Their Favourite Local Boutiques (Elle Canada)

Customers from Canada and beyond seek answers after Aurora drum store’s abrupt closure (CityNews)

Grocers say prices in some northern communities protected from tariffs, for now (CBC)

Toronto’s newest sandwich shop is drawing comparisons to a legendary Florence spot (Streets of Toronto)

Theft ring that targeted 50 LCBO stores across Ontario busted by cops (InSauga)

Canadians Reduce U.S. Purchases Amid Rising Trade Tensions

By
Craig Patterson
-
Photo: Loblaw Corporation

Amid escalating trade tensions between Canada and the United States, a new survey reveals that Canadian consumers are making significant shifts in their shopping habits. The latest Trump Tariffs Tracking Report from Leger indicates that two-thirds of Canadians have actively reduced purchases of American-made products, both in-store (67%) and online (63%), in response to tariffs imposed by President Donald Trump’s administration.

Furthermore, 70% of Canadians report increasing their purchases of locally made Canadian goods, signaling a surge in economic nationalism as consumers aim to counter the impact of tariffs on imports.

Rising Economic Concerns Among Canadians

The report highlights that 28% of Canadians now consider U.S. tariffs and trade-related issues the most important challenge facing the country, surpassing concerns about inflation (21%), healthcare (11%), and housing affordability (11%). This reflects the growing anxiety over economic repercussions tied to cross-border trade.

Additionally, 54% of Canadians believe the country is already in a recession, a sentiment that has ticked up from the previous week. Economic instability is also evident in consumer sentiment, with 44% of Canadians reporting that they are living paycheck to paycheck.

Tariffs Impact Retail Spending Patterns

The impact of tariffs on consumer purchasing decisions is reshaping the Canadian retail sector. The Leger survey found that:

  • 67% of Canadians have cut back on purchasing American-made products in physical stores.
  • 63% have reduced spending on U.S. products purchased online.
  • 56% are spending less on goods from American e-commerce giant Amazon.
  • 54% have decreased visits to U.S.-based fast food chains such as McDonald’s, Starbucks, and Burger King.
  • 47% are spending less at American retail chains, including Walmart, Costco, and Winners.

This shift in spending habits could significantly impact U.S.-based brands operating in Canada, forcing them to reconsider pricing strategies, supply chain solutions, and marketing approaches.

A sign encouraging shoppers to buy Canadian products at a liquor store in Vancouver on Feb. 2, 2025. Shoppers have been caught up in the buy Canadian fervour since U.S. President Donald Trump began threatening to apply tariffs on imports from Canada. THE CANADIAN PRESS/Ethan Cairns

Growing Support for Government Retaliation

Public opinion is firmly in favour of retaliatory measures against the U.S. tariffs. The report shows that 70% of Canadians support the federal government’s strategy of matching American tariffs dollar-for-dollar, with 45% expressing strong support for such actions.

Concern over U.S. trade tactics also extends beyond tariffs. A striking 82% of Canadians fear that President Trump may use economic pressure—such as tariffs and trade sanctions—to push Canada toward a closer political and economic alignment with the United States.

Consumers’ Response Beyond Retail: Travel and Streaming Services

The economic dispute is also influencing travel and entertainment choices. According to the survey:

  • 16% of Canadians who had planned trips to the U.S. have now canceled them.
  • 15% have canceled subscriptions to American entertainment platforms, such as Netflix, Disney+, and Amazon Prime Video.

These trends suggest that the trade war is not just altering retail purchases but also shaping broader consumer behaviour, as Canadians increasingly look for domestic alternatives in multiple spending categories.

Implications for Canadian Retailers

The shift away from U.S. goods presents an opportunity for Canadian brands and retailers to capitalize on heightened consumer interest in domestic products. With 70% of Canadians actively seeking Canadian-made alternatives, businesses that emphasize local sourcing and transparent supply chains could see increased support.

Retailers and manufacturers may also need to adjust supply chains to navigate the ongoing tariff situation, potentially seeking alternative import partners beyond the U.S. market to stabilize costs and ensure competitive pricing.

Looking Ahead: What’s Next for Canadian Retail?

As the tariff conflict unfolds, retailers and industry stakeholders must monitor consumer sentiment closely. With economic uncertainty rising and consumers shifting away from U.S. brands, the Canadian retail landscape could see permanent changes in shopping behaviours that extend beyond the immediate trade dispute.

For Canadian businesses, adapting to this shifting landscape by reinforcing domestic production, localized marketing efforts, and strong supply chain resilience will be key to weathering the storm and thriving in a new era of consumer nationalism.

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