Canadian Tire Shops Local – Picks Blackberry

An all-Canadian feel good deal is announced.

| More on:
The Motley Fool
You’re reading a free article with opinions that may differ from The Motley Fool’s premium investing services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn more

Canadian Tire (TSX:CTC.A), a stock that has held up very nicely by the way, announced this morning they will be using Blackberry 10 devices as their official smartphone for corporate team members across Canada.  This includes employees under all of its banners – Canadian Tire, Financial Services, Mark’s and FGL Sports (ie. Sport Chek).

This announcement represents a solid endorsement for Blackberry (TSX:BB,NASDAQ:BBRY) by one of Canada’s largest retailers.

The Blackberry deal appears to be part of greater strategy for Canadian Tire to get more tech-savy.  In March the retailer announced a partnership with a Waterloo based incubator named Communitech.  The move was expected to result in a digital content hub on its website as well as a rollout of 5,000 tablet devices to its stores for customers to look up products and information.  Perhaps this technology move will involve a deeper relationship with Blackberry at some point?

Blackberry’s stock, which had spent most of the morning in the red, is now flashing green on the back of this release.

Good news, eh!

Canadian Tire is facing significant pressure from the growing presence of U.S. retailers on the Canadian landscape.  However, these U.S. retailers are looking north for a reason.  The biggest of them all, Wal-Mart used to be an unmatched business and an equally untouchable stock. But today, two companies are turning Wal-Mart’s world upside-down and beating the retail giant at its own game. And if you act fast, we’ll give you their names and ticker symbols for FREE.  Simply click here and we’ll send you our Special FREE Report “The Death of Wal-Mart” right now!

Follow us on Twitter and Facebook for the latest in Foolish investing.

Fool contributor Iain Butler doesn’t own shares of any of the companies mentioned.  The Motley Fool has no positions in the stocks mentioned above.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.

More on Investing

Man holding magnifying glass over a document

3 Heavily Shorted TSX Stocks to Watch This Summer

Canadians should monitor heavily shorted TSX stocks like Canada Goose Holdings Inc. (TSX:GOOS)(NYSE:GOOS) in this bear market.

Read more »

Airport and plane

3 TSX Stocks Set to Take Off With Summer Travel

Canadians should direct their attention to the travel industry and snatch up TSX stocks like Air Canada (TSX:AC) and others…

Read more »


Young Investors: 3 Canadian Stocks You Can Trust as Inflation Rises

Inflation has soared to new heights, which should spur young investors to snatch up Canadian stocks like Empire Company Ltd.…

Read more »

analyze data

2 Tech Stocks That Benefit From the Decline of Crypto

Crypto's bear market creates opportunities for traditional rivals like Lightspeed (TSX:LSPD)(NYSE:LSPD).

Read more »

Growing plant shoots on coins

Why This Canadian Growth Stock Could Double Next Thursday

This growth stock is set to soar if market recovery continues and what analysts expect from the company continues.

Read more »

Glass piggy bank

Market Correction: Boost Your Retirement Fund With These 2 Stocks

The correction in top TSX stocks presents a solid opportunity for investors with long-term financial goals to buy shares of…

Read more »

Happy family father of mother and child daughter launch a kite on nature at sunset
Dividend Stocks

Parents: Here’s Every Credit and Benefit You Can Claim From the CRA

Parents have it hard already, so make sure the CRA is doing everything for you by dishing out payments you're…

Read more »

edit Colleagues chat over ketchup chips
Dividend Stocks

3 Canadian Dividend Stocks to Buy and Hold for Life

These dividend-paying stocks have solid earnings base to support their payouts for decades.

Read more »