Joining us for a wide-ranging interview on how a more than 100 year old retailer stays relevant is Greg Hicks, CEO of Canadian Tire. We start with some history, tracing the evolution of one of North America's most successful retailers from its modest beginnings as a tire shop to today's diverse portfolio of store formats, powerful private brands, and financial services, comprising over 1,700 locations.
Joining us for a wide-ranging interview on how a more than 100 year old retailer stays relevant is Greg Hicks, CEO of Canadian Tire. We start with some history, tracing the evolution of one of North America's most successful retailers from its modest beginnings as a tire shop to today's diverse portfolio of store formats, powerful private brands, and financial services, comprising over 1,700 locations.
While Canadian Tire is rather unique in its iconic position in Canadian culture and dealer-based business model, their embrace of "connected retail" and how they stay customer-centric through an intense local focus contains incredibly valuable lessons for all retailers regardless of product focus or wherever they might be located. Greg, who was named the "Canadian Retailer of the Year" by the Retail Council of Canada earlier this year, also shares some of his key leadership principles, including how to balance pursuing short and long-term priorities.
But first, as usual, we kick-off with a fast-paced review of the week in retail news, including mostly depressing earnings reports from a diverse set of retailers including Dollars General, American Eagle, Saks, and the brand formerly known as Restoration Hardware. In stark contrast to last week's episode, Tractor Supply escalates its commitment to a winning course of action by picking up the pace of its store openings. We close wth more disruption in the disruptor space as Draper James, the Reese Witherspoon founded clothing brand, gets acquired.
Our interview with TSC's Hal Lawton.
About Greg
Greg Hicks was appointed President and CEO of Canadian Tire Corporation (CTC) in March 2020. With a strategic mindset, tremendous commercial acumen, and the ability to build high-performing teams who deliver exceptional results, Greg has proven himself to be a world-class and purpose-driven leader. Building on the iconic Company’s more than one hundred years of success, Greg has aligned the enterprise to a clear Brand Purpose that We Are Here to Make Life in Canada Better and is driving sustainable, long-term growth that delivers value for all CTC’s stakeholders.
Prior to this appointment, Greg was President, Canadian Tire Retail (CTR), CTC’s largest banner, with more than 500 stores across Canada. In addition to overseeing all aspects of CTR’s business, Greg was accountable for its global operations, eCommerce initiatives and its valued relationship with Canadian Tire’s Associate Dealers. Greg is relentlessly focused on bringing customers the products they want and need to make life in Canada better. He built a world-class Owned Brands portfolio delivering over $4B in sales in 2019, and led the acquisition of Party City’s Canadian business, adding a new trip-driving category and attracting a new customer segment to CTR.
Previously, Greg served as Group Senior Vice-President, Consumer Products & Retail Experience, CTR, where he oversaw its General Merchandise and Automotive businesses and was also responsible for managing Store Experience, Store Operations, Product Sourcing and Quality, including the management of CTC’s Pacific Rim offices in Asia. Greg was instrumental in transforming Canadian Tire’s assortments for Life in Canada, including a renewed focus on Owned Brands, style and design, and new levels of product quality. He has been integral to the Company’s focus on disciplined performance management.
With more than 20 years of retail experience in senior leadership positions, strong management and merchandising experience, Greg has a proven ability to lead teams to success. Before joining Canadian Tire, Greg was the Chief Operating Officer at TSC Stores where he supervised all of TSC’s business operations. Greg has also advised and worked with large multi-national retailers on the development of Canadian strategies.
Greg holds a Bachelor of Arts from the University of Western Ontario and an Honours Business Administration degree from the Richard Ivey Business School. He is a member of CTC’s and the Business Council of Canada’s Boards of Directors and was previously a Trustee for CT REIT and the former Chair of the Retail Council of Canada. Greg was named Distinguished Canadian Retailer of the Year by the Retail Council of Canada in 2023 and is a past recipient of Canada’s Top 40 under 40 Award.
About Us
Steve Dennis is a strategic advisor, keynote speaker, and bestselling author of focused on growth, innovation, and the impact of digital disruption. He is widely considered one of the foremost and influential voices in the retail industry. You can learn more about Steve on his website. His #1 bestselling book Remarkable Retail: How To Win & Keep Customers in the Age of Disruption is available at Amazon or just about anywhere else books are sold. Steve regularly shares his insights in his role as a Forbes senior contributor and on Twitter and LinkedIn. You can also check out his speaker "sizzle" reel here.
Michael LeBlanc is the Founder & President of M.E. LeBlanc & Company Inc and a Senior Advisor to Retail Council of Canada as part of his advisory and consulting practice. He brings 25+ years of brand/retail/marketing & eCommerce leadership experience, and has been on the front lines of retail industry change for his entire career. Michael is the producer and host of a network of leading podcasts including Canada’s top retail industry podcast, The Voice of Retail, plus Global eCommerce Leaders podcast, and The Food Professor with Dr. Sylvain Charlebois. You can learn more about Michael here or on LinkedIn.
Be sure and check out Michael's latest venture for fun and influencer riches - Last Request Barbecue, his YouTube BBQ cooking channel!