Stocked up, as usual, for a hardy winter, Canadian Tire Corp. (CTC-T72.70—-%) chief executive officer Stephen Wetmore was left feeling “a bit like the person who is all dressed up and nowhere to go” when the snow didn’t show.
“We were so well prepared across all our lines of business to meet a need that never materialized,” Mr. Wetmore said in his fourth-quarter conference call to shareholders.
Vagaries of the weather notwithstanding, Canadian Tire delivered “solid” financial results due to strong sales in other categories. But the company also benefited from a drive to make its operation more lean and efficient, Mr. Wetmore said.
“Important advancements were made in merchandise procurement, product transportation and store operations,” Canadian Tire said in its earnings release. “In 2012, the company will continue to introduce initiatives to maximize efficiencies and mitigate costs.”