OTTAWA, ONTARIO--(Marketwired - Dec. 10, 2013) - Giant Tiger Stores Limited is pleased to announce that it has discontinued the sale process and will remain a 100% privately owned Canadian retailer with its current ownership structure. In October, Giant Tiger Stores Limited shared that it was exploring its business options, including a possible sale.
Exploring the sale process and working with prospective buyers required the Giant Tiger team to carefully assess its strengths and ability to compete and win in an ever increasingly competitive Canadian retail market. This assessment reinforced an already strong sense of confidence in its team and the unique Giant Tiger franchise model.
Giant Tiger Chairman and Founder, Gordon Reid stated: "It was our decision to stay private and continue to develop our successful franchise system which allows us to compete in both official languages with all Canadian retailers. Our strategy provides us with continuing sales and profit increases, and our franchise owners and shareholders with the best return on their investment. Our Marketing and Store Merchandising teams have collaborated to make our New Store Experience compelling. Our Buyers continue to improve our product selection. Our computer system allows store owners to manage our inventory more profitably and our distribution system continues to deliver on time. Simply put, there is no other Canadian retailer as attractive and well managed as Giant Tiger."
Giant Tiger stores continue with an aggressive store refurbishing program (New Store Experience), and have seen very positive sales and profit trends which have continued through the fall and now the holiday season.
In 2014, Giant Tiger Stores Limited plans on opening 7 new stores and renovating 32 existing stores with the New Store Experience.
Link to footage of New Store Experience
About Giant Tiger:
In 1961, Giant Tiger Stores Limited opened its first store in Ottawa. The business was started with a very simple idea - keep the cost of operation low and sell a large volume of merchandise at everyday low prices. It is the adherence to this idea that has allowed Giant Tiger to grow to over 200 stores.
In 1968, another simple idea was incorporated into the Giant Tiger formula - franchising! Today most of our stores are franchised so our valued customers will be better served by having the owner in the store. Giant Tiger franchise owners become members of the community, sharing community concerns and serving community needs. Giant Tiger also helps to bring communities together. In 2012, Giant Tiger donated more than $2 million to more than 700 local associations and charities across Canada.
Giant Tiger offers a large assortment of casual clothing and footwear for the entire family including many of the latest fashion items at the lowest possible price. The identical quality and fashion items offered by major chain stores are sold at Giant Tiger often at remarkably lower prices. In addition, Giant Tiger provides everyday needs for families in groceries, confectionery, pet food, cleaning supplies, housewares, stationery, toys and health and beauty products.
Giant Tiger checks out as Canada's low price Giant with our low prices every day, Ad Match Guarantee, Clawbacks throughout the store and our no time limit return policy. For more information about the company, please visit www.gianttiger.com, join us on Facebook at www.facebook.com/gianttiger or follow us on Twitter @GTboutique and on Four Square Giant Tiger Stores.
Giant Tiger, a proud Canadian company since… FOREVER! #CanadaPROUD