Canadian Tire Corporation Temporarily Pauses Helly Hansen Operations in Russia

TORONTO, March 4, 2022 /CNW/ - Today, Canadian Tire Corporation (CTC) (TSX: CTC.A) (TSX: CTC) announced it will temporarily pause its Helly Hansen operations in Russia, which include its retail stores, eCommerce site and product shipments. The conflict between Russia and Ukraine is tragic and deeply concerning and CTC's priority will continue to be protecting the safety and well-being of its employees. During this temporary pause in operations, store employees will continue to be paid and supported and the Company will continue to honour its commercial obligations. 

Helly Hansen operates 41 retail locations and employs over 300 people in Russia. The situation is extremely critical and fast moving. CTC is dedicated to navigating through this reality with the best interests of its people as its highest priority.

CTC is committed to helping those impacted by the conflict in Ukraine and has made a $200,000 donation to the Red Cross' Ukraine Humanitarian Crisis Appeal. The Company is also committing up to $500,000 in support of the thousands of Ukrainian refugees who will be arriving in Canada. In addition, CTC's retail locations across the country will be collecting donations for the Red Cross' Ukraine Humanitarian Crisis Appeal.

About Canadian Tire Corporation

Canadian Tire Corporation, Limited, (TSX: CTC.A) (TSX: CTC) or "CTC", is a group of companies 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. Party City, 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; Pro Hockey Life, a hockey specialty store catering to elite players; and SportChek, Hockey Experts, Sports Experts, Intersport and Atmosphere, which offer the best active wear brands. The more than 1,740 retail and gasoline outlets are supported and strengthened by CTC's Financial Services division and the tens of thousands of people employed across Canada and around the world by CTC and its local dealers, franchisees and petroleum retailers. In addition, CTC owns and operates Helly Hansen, a leading global brand in sportswear and workwear based in Oslo, Norway. For more information, visit Corp.CanadianTire.ca.

SOURCE CANADIAN TIRE CORPORATION, LIMITED

Media: Jane Shaw, [phone], [email protected]