(Refiles to fix typo in first paragraph)
* Sees lucrative market opportunity in home appliances
* Begins selling refrigerators, washers, dryers
By S. John Tilak
TORONTO, June 28 Canadian Tire Corp (CTC.TO)
(CTCa.TO) is pushing into the C$3 billion ($3.1 billion) a year
large-appliance market to sustain sales growth as competition
in Canada's retail industry heats up.
The retailer -- which already sells small appliances as
well as automotive products, electronics, sports gear and other
hard goods -- hopes its customer base will now linger at its
ubiquitous stores a little longer to make pricier purchases.
The company said on Tuesday it has started selling
refrigerators, washers, dryers and microwaves made by Inglis
and Amana, units of Whirlpool (WHR.N).
The move means Canadian Tire will lock horns with the likes
of home improvement chains such as Rona Inc RON.TO and Home
Depot (HD.N) as well as Wal-Mart Stores Inc (WMT.N).
Canadian retailers have been bracing for competition from
U.S. retailer Target Corp (TGT.N), which plans to enter the
market in 2013.
"The competitive landscape across Canada is intensifying.
There's no question about that," said T.J. Flood, Canadian
Tire's vice president of merchandising.
Toronto-based Canadian Tire's sights will first be on the
value segment, which forms about C$1 billion of the large home
The company said last month it will pay C$771 million to
acquire Forzani Group Ltd (FGL.TO), Canada's No. 1 sporting
goods retailer, in its biggest acquisition yet.
Canadian Tire's revenue rose 3.4 percent in 2010 after a 5
percent fall in 2009.
(Reporting by S. John Tilak; editing by Peter Galloway)