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Video of maskless confrontation by a customer at a Canadian Tire (TSX:CTC) retail outlet has gone viral.
The short clip shows a heated altercation between the store employees and the maskless customer. A shopkeeper can be seen handcuffing the maskless man while another staff member gives him a chokehold.
The maskless customer is heard saying he cannot be detained or handcuffed as the store employees are not the police.
The incident took place at the Canadian Tire store in Burnaby, British Colombia, on Tuesday, February 23.
The company’s spokesperson Cathy Kurzbock stated that the issue is under investigation, and the management is in touch with the Royal Canadian Mounted Police as they scrutinize the entire incident.
The police took the man into custody soon after the incident who is now under investigation for assault.
Will this incident impact Canadian Tires’ stock performance? Let us take a look:
Tire Corporation Limited (TSX:CTC)
The auto part retailer’s stock was up 2.25 per cent on Wednesday. It has added almost 8 per cent gains in one year.
Still, it is nearly 13 per cent below its 52-week high of approximately C$ 240 per share. Its current price is 208.50 per common share.
In the fourth quarter of 2020, the retail firm’s eCommerce sales zoomed 142 per cent year-over-year (YoY).
For the entire 2020, the company recorded a top line of C$ 336.6 million, an increase of 2.3 per cent YoY. It excludes the revenue from petroleum, which was also up 6.9 per cent YoY.
One Year Stock Performance of Canadian Tire. (Chart Source: Refinitiv, Thomson Reuters)
The firm has declared dividend of C$ 1.175 per piece for the first quarter of 2021.
The gross dividend yield is ~2.25 per cent and three-year dividend growth is 18.81 per cent.
The incident is likely to have no impact of Canadian Tire’s stock performance.
