Canadian Tire Financial Services 2013 Year in Review- Executive Message

Lots of new customers; higher receivables; very, very strong growth rates.

2013 has been a real turn around year for Financial Services.

We’ve seen extraordinary growth this year, uh, on-on many fronts. Uh, more profitable than ever, uh, but more customers; more new customers; more satisfied existing customers and much deeper and more effective integration with our retailer partners and our dealers.

And we’ve spent more time with the dealers this year than ever before.

What we’ve tried to do is design our business around what is important for the dealers and ultimately our end customers.

And we’re seeing that show up in great sales results, in higher receivables and more and more customers who want to do business with us.

Consumers today are looking for-for value and for, uh, ways to make their life easier and to get more, um, from the hard earned money that they have and-and what our card is all about is trying to help  them get exciting rewards that they can use back on any one of the products that we sell.

What we’re doing collectively is driving stronger sales at retail. Driving more footsteps into the store and ultimately bringing more customers into both are businesses.

But we always have to be innovative. We always have to be upping game and Canadian Tire is a creative, innovative company.

I think innovation is part of our life blood at Financial Services.

It’s in everything that we’ve done this year. We’ve designed new processes. We’ve designed new products.

Products that were more relevant and more exciting for our customers.

So as we go forward I believe you’re going to see innovation all through the customer experience.

We’ve introduced instant credit solutions in store, driving not only credit card acquisition but increasing same day sales

Working on things like the home services business, the driving school, etc., provide opportunities for us outside of just the traditional financial services business.

And we’re getting great feedback from our customers on the quality of our services and the friendliness of dealing with Canadian Tire. It’s been a great year.