(PRESS RELEASE) SAN DIEGO — Petco Health and Wellness Company, Inc. (Nasdaq: WOOF) announced a significant expansion to its existing exclusive retail partnership with Canada’s iconic retail brand, Canadian Tire (TSX: CTC, TSX: CTC.A). The expansion forms part of Canadian Tire’s renewed store concept and broader product assortment being rolled out as part of the company’s Better Connected strategy.
With an estimated 90% of Canadians living just 15 minutes away from a Canadian Tire store, this expansion will enable Petco to further reach into Canada’s assessed $5.3 billion pet market with an expanded, exclusive Petco product assortment in dedicated Canadian Tire store spaces as well as online at canadiantire.ca. Petco shop-in-shops will be available in 90% of Canadian Tire’s locations across the country by the middle of 2023.
“Canadian Tire’s legacy as an admired go-to retailer for living, playing, fixing, automotive and seasonal products has cemented them as a household name in Canadian homes. Through our exclusive expanded partnership with Canadian Tire, we’re growing awareness of — and access to — Petco’s health and wellness products within Canada’s dynamic and rapidly growing pet market,” said Petco Chief Merchandising Officer Amy College. “Four years after our teams brought this exciting and innovative concept to pet parents, the continued growth of our partnership speaks to pet parents’ deep confidence in Petco’s pet care expertise, as well as the power and reach of Canadian Tire’s connection with local markets. These shop-in-shops will continue to bring innovation to existing Canadian Tire pet parents and attract new customers for years to come.”
Delivering against Petco’s mission of improving the lives of pets and people, the two retail leaders will significantly increase inventory of Petco’s premium, owned and exclusive pet products — including Petco’s fast-growing WholeHearted line of premium pet food and treats, and its popular lifestyle and fashion brand for pets, Reddy. The shop-in-shop experience will also feature a variety of additional Petco brands, including SoPhresh pet litter and accessories, and Well & Good, a pet care line with a wide range of expert-formulated, high-quality first-aid solutions, remedies and grooming products and tools.
“With 60% of Canadian households home to a family cat or dog, pet is an important product category with strong potential for growth rooted in value, relevance and trusted brands for our customers,” said Michael Magennis, Senior Vice President, General Merchandising at Canadian Tire Retail. “Since partnering with Petco in 2018, we have seen double-digit growth in the category with a marked increase in customers shopping the pet category for the first time.”
For more information about Petco’s health and wellness solutions, visit petco.com. For details on Canadian Tire, visit canadiantire.ca.
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About Petco, The Health + Wellness Co.
Founded in 1965, Petco is a category-defining health and wellness company focused on improving the lives of pets, pet parents and our own Petco partners. We’ve consistently set new standards in pet care while delivering comprehensive pet wellness products, services and solutions, and creating communities that deepen the pet-pet parent bond. We operate more than 1,500 pet care centers across the U.S., Mexico and Puerto Rico, which offer merchandise, companion animals, grooming, training and a growing network of on-site veterinary hospitals and mobile veterinary clinics. Our complete pet health and wellness ecosystem is accessible through our pet care centers and digitally at petco.com and on the Petco app. In tandem with Petco Love (formerly the Petco Foundation), an independent nonprofit organization, we work with and support thousands of local animal welfare groups across the country and, through in-store adoption events, we’ve helped find homes for more than 6.5 million animals.
About Canadian Tire Corporation
Canadian Tire Corporation, Limited, (TSX: CTC.A) (TSX: CTC) or “CTC,” is a family of businesses that includes a Retail segment, a Financial Services division and CT REIT. Our retail business is led by Canadian Tire, which was founded in 1922 and provides Canadians with products for life in Canada across its Living, Playing, Fixing, Automotive and Seasonal & Gardening divisions. PartSource and Gas+ are key parts of the Canadian Tire network. The Retail segment also includes Mark’s, a leading source for casual and industrial wear, and FGL Sports (Sport Chek, Hockey Experts, Sports Experts, Sports Rousseau, L’Entrepôt du Hockey, National Sports, Intersport, Pro Hockey Life and Atmosphere), which offers the best active wear brands. The approximately 1,700 retail and gasoline outlets are supported and strengthened by our Financial Services division and the tens of thousands of people employed across the country by the Company and its local dealers, franchisees and petroleum retailers. For more information, visit Corp.CanadianTire.ca.
