It's good to see some financial information that isn't distored by the Crappy Tire Defenders.
It turns out that this "cash only" buy-out of Forzani wasn't really "cash only" after all.
Crappy Tire's debt went up from $2.3 billion to $3.3 billion. There was assumed debt and transaction costs that cranked up the cost of the $765 million purchase.
The increase resulted in Crappy Tire's debt rating dropping from a BBB from an A rating.
Shares also dropped by 5 cents to $52.85.
LMAO!Originally Posted by Unregistered
So, the CT Geniuses had to borrow a billion dollars, to make a cash-only purchase of 3/4 of a billion?
I guess they can buy a $700,000 house with 'all cash', but ending up borrowing $1,000,000! Hilarious!
Read it again hot shot! The money came primarily from cash and a bit of short term loan.
The billion dollar incremental debt load is Forzani's debt load.
The other thing you clearly don't understand is good debt vs. bad debt.
debt does not mean a company has negative net worth. If money is cheap enough to buy due to low interest rates, carrying debt load is GOOD.
Of course you wouldn't understand it, or care to actually learn about it. You just assume any debt figure is bad.
silly ct hater
learn
Ya sure buddy! Hiliarious. Learn from the USA expansion Crappy Tanking wisemen failures? The same CT dealers who all claim to be millionaires but have no proof, and not even a slight mention of the founders in Canada's rich list! Hilarious. That's right, if there's a toilet around they'll show you what to do with the bags and bags of money!
I smell another write off. Lack of discipline and business acumen on CT's part and that's why they paid way too much for a low margin company, in a struggling economy. Fail!
Folks, I saved BIG and bought my sports equipment from the US and OMG were the savings ever significant!!!
We don't understand it. Please show us the link where CT coporation provided the news release on this topic
We care to actually learn about it, just learned from CT coporation's website corp.canadiantire.ca, under subtitle investors. debtholder info, credit rating indicated BBB for debentures, medium-term notes etc. . Oh, there is something called Asset backed commecial paper got a " --- " , What is that ? We don't like to assume anything.
Don't call us as CT hater, we are concern about how well CT is doing.
I have zero interest in proving to you that value of a Canadian Tire franchise, and i'm surely not going to post my earnings statement here for you LOL talk to an investment wizard, ask them a few questions about CT ownership. They will set you straight.Ya sure buddy! Hiliarious. Learn from the USA expansion Crappy Tanking wisemen failures? The same CT dealers who all claim to be millionaires but have no proof, and not even a slight mention of the founders in Canada's rich list! Hilarious. That's right, if there's a toilet around they'll show you what to do with the bags and bags of money!
I smell another write off
Folks, I saved BIG and bought my sports equipment from the US and OMG were the savings ever significant!!!
Founders on the rich list? To make the top 100 richest in Canada you'd have to have a net worth of almost $600 Million. That's a load of money, holy cow! Anyways, at last check it was estimated Martha Billes' net worth in CT shares and outside investements was in the $175-$200 million range. LOL you make it sound like she's living in a dumpster. hahaha now THAT is hilarious!
If you want lack of business discipline and acumen, let me point you in the direction of a couple of retailers.... you know like Zellers (going) , Sears ( going? ) , Eatons (gone)
As far as US expansion goes, that's OLD news my friend, very old news. 30 years ago does not create a current state FYI. Don't trust Ford, they built a dud called the Edsel. that must spell future failure hahaha
Remember since that mistake Canadian Tire has successfully bought and expanded Marks Work Wearhouse into a profitable thriving arm of the CT family. Has done the same with a whole load of independant auto parts stores turned into PartSource operations and has now bought Forzani making us by FAR the largest sporting goods company in Canada. Don't you worry young whipper snapper, we are standing up just fine. I might invite you to do a little research on retailing in the last 20 years in Canada. You might discover that they all thought CT would fail quickly with Walmart & Home Depot coming to Canada. Many many moons ago that was young fellow, and here we are.... still growing, still profiting. Lowes joined US retailers entering into Canada a few years back...we're still here. Target you say? "Bring It On"
Come on man, if you want to play numbers games, i'll play them all day long. CT's track record stands for itself. You may not like us, our products or our stores but we sure as hell must be doing something right!!! Your opinion does not carry any weight. It's just a collection of silly ramblings about a company you do not like. Period!
Canadian Tire store make bad investment mistake tell me all about money. Ha ha ha. You don't know anything about a dollar or whereit come from now you think you teach me about success! Ha ha ha. Thats why you keep lying about my return and don't give back my money. That's how you make money. That's ok you don't make it honestly. I invest and buy from other stores.
Yup, the Crappy Tire Geniuses really screwed up, big time.
It's like a buddy of mine who bought a $2000 car, but it turned out it had a $1000 lien against it. So, he ended up paying $3000 for a $2000 car. Bad deal!
Same with Crappy Tire. They bought a $765 million company, but it comes with a $1 billion debt. So, they will end up paying $1.765 billion for a company that's not even worth $765 million!
Good job, Crappy Tire! Good job!
Awe...you and your colleagues were bragging about being millionaires and taking time off for golf every afternoon, and showing up for work 1 or 2 days a week, if that. Surely you all wouldn't be lying about that now would you? No proof no pudding. Just like your ."easy returns" until the customer takes it to the store, gets their privacy violated and gets ripped off.
Sure buddy, sure. Making up more facts as you go along? Where's proof on Billes wealth? Oh that's right, you have none and need to lie.
I'm glad you pointed that out, writings on the wall for you on that one
Didn't a bunch of you deny it ever happened, and that no dealer was ever caught up in the corporate loss lol. Until somebody dug up a CBC archive proving you all to be liars!!! Now you've changed your tune lol. Losers.
Sure buddy, sure. Once again you're playing with unicorns. Where's your proof???!? Why is your profit and revenue down almost 14% for the quarter. Oh that's right, you're not doing as well as you would like everybody to think! Better change the return policies internally for all the Sports Cheks to "no returns", just like the rest of CT's. It doesn't matter what you state in print for " returns and exchanges". Just like all those rip offs caught on hidden camera at your garages lying and ripping off people.
More competition coming in getting a toe hold, and the pie gets thinner and thinner every time dumb ass. You lose loser lol. That's why you suck and not even in the top 20, never mind the rich list lol. Let's see, Target, a 100 Billion dollar a year company setting up shop next door to you at 220 locations. Ha ha ha ...and the best offensive play you can do is waste 800 million and paying a stupid ridiculous premium for a low margin sporting goods store, in an upcoming recession lol. Target's spending 1 Billion on improving their stores for customers. What are you doing for customers, oh that right, lying about "cash refunds", and replacing it with "store credit" when they come back with the bad item.Crystal ball says you'll be closing a few Sport Cheks stores in a few years, maybe even looking for a new CEO lol.
LOL. Hilarious. Numbers games that you keep on failing at!!! You're such a moron. Can't even back up your claims about being a millionaire, get the valuations wrong on your competitors, comparing apples to potatoes. How, pathetic! You lose loser. 50 000 losers, blah blah stores chirp chirp...getting stomped on by customers supporting much better stores. I'm banking on your competition to clean you out
LOL another financial analyst in the making
You clearly don't understand cash flow, debt, earnings, capitalization and ASSETS!!!!
Almost every company runs with debt. nobody operates purely with cash on hand. idiot
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