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Campaigns / Spruce Point Capital → Canadian Tire Corporation
Spruce Point Capital vs. Canadian Tire Corporation

Canadian Tire Corporation · CTC.A

1 deck published between 2019-12-05 and 2019-12-05 — 108 pages, 108 analysed slides total.

initial thesis

Timeline

Each deck in chronological order — click to open. This is the story of the campaign as it unfolded.

  1. 2019-12-05 initial thesis

    2019 12 64e7a34a7ec947f1406f9361_ctc_research_thesis_12 5 2019

    108pp · full_deck

    Canadian Tire is an over-levered legacy retailer masking decline with aggressive accounting and risky credit card lending; looming downgrade forces asset sales and 35-50% downside to C$77-100.