Canadian Tire releases business sustainability results
CBJ - May 17 - Canadian Tire Corporation has released the results of its business sustainability strategy for the first quarter of 2012.
Most notable in Q1 is that forecasted greenhouse gas emission avoidance is up ten-fold primarily due to the large-scale road-to-rail conversion that the company undertook in connection with transportation.
Additionally, Canadian Tire's business sustainability strategy began reporting incremental new business, as in-store events designed with utility groups across the country drove $2 million in retail sales of energy saving products.
"We're pleased with the early results from 2012 and will continue to integrate sustainability into our plans and processes," said Tyler Elm, Vice-President, Corporate Strategy and Business Sustainability, Canadian Tire Corporation. "We're seeing positive financial results because of our efforts to avoid operational costs, increase transportation efficiency, and incent customers to walk into our stores to purchase energy saving products."
The Canadian Tire transportation team completed its road-to-rail conversion work for deliveries into Eastern Canada, leveraging and better utilizing its relationship with Canadian National Railway. More efficient from both an operational and environmental perspective, the result is a change to the mix of Eastern Canada shipments from 75 per cent road and 25 per cent rail, to 20 per cent road and 80 per cent rail. These efforts are forecasted to reduce costs, more than 6,600 tonnes of greenhouse gas emissions, equivalent to removing more than 1,500 cars from the road.
A key part of Canadian Tire's business sustainability strategy involves working with external stakeholder groups and both the company and its customers are seeing the benefits of these strong relationships with partners.
For the first time, in addition to cost avoidance, Canadian Tire is reporting sales from a business sustainability initiative developed in partnership with BC Hydro, SaskPower, Ontario Power Authority, and Nova Scotia Power. This initiative, completed in 2011, generated more than $2 million in incremental retail sales from in-store events at 288 Canadian Tire locations.
Through the use of targeted couponing, the in-store events encouraged consumers to use energy-efficient products such as ceiling fans, thermostats, dimmer switches, timers, and light bulbs.
Constantly innovating to ensure enhanced customer and environmental outcomes, the company saw a more than 60 per cent increase in the number of sustainability initiatives completed in Q1 and more than a 30 per cent increase in cost avoidance over the same period last year.