Canadian Tire Invests $200 Million to Revamp Mark’s Retail Stores

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Canadian Tire Corp. Ltd. is investing $200 million to transform Mark’s stores, aiming to attract a broader customer base by refreshing existing locations and opening new ones by 2028.

In a significant move to redefine its retail presence, Canadian Tire Corp. Ltd. has announced a substantial investment of $200 million aimed at revitalizing its apparel brand, Mark’s. This financial commitment is set to both expand the brand's overall footprint and refresh existing stores, with a focus on modernizing the shopping experience. By the end of 2028, Canadian Tire plans to have at least 40 of its anticipated 387 Mark’s locations either newly established or updated to a new store model that has been in experimentation since 2023.
The new store format, which typically spans around 25,000 square feet, is designed to create a brighter and more inviting atmosphere. This approach not only enhances the shopping experience but also includes a broader range of women’s and children’s apparel, as well as dedicated brand-specific shops integrated within the larger Mark’s locations. Currently, 21 stores across Alberta, British Columbia, Manitoba, Ontario, and Quebec have already adopted this updated layout.
Mark’s president, PJ Czank, views this transformation as a crucial opportunity for the nearly 50-year-old retailer to reshape customer perceptions. Traditionally known as a destination for trades workers since its inception in 1977, Mark’s has evolved under Canadian Tire’s ownership, which began in the early 2000s, to become a go-to location for casual wear. The upcoming changes aim to build on this evolution by attracting a demographic that may not be aware of the brand’s expanded offerings beyond work boots and jeans.
Czank emphasized the importance of making Mark’s more appealing and relevant, especially to women and younger customers who may not have previously considered shopping there. “We’re appealing to more new Canadians and we really want to change people’s minds and say to customers who haven’t considered us, this is the time to consider us,” he stated, highlighting the brand's goal to inspire a broader audience.
Early adoption of the new store format has shown promising results, with improved metrics in customer acquisition, particularly among women and younger shoppers. These demographics are crucial for the brand, given that research indicates women often control household purchasing decisions and young consumers tend to develop lasting brand loyalties early in their shopping experiences.
The decision to implement the new store layout was made in 2023, as Canadian Tire assessed its real estate portfolio. Czank noted that the company discovered that its largest stores were also the most productive, prompting the acquisition of five former Bed Bath & Beyond locations to pilot the new concept. The largest store utilizing this model recently opened in Thunder Bay, Ontario, encompassing 36,000 gross square feet and featuring shop-in-shop spaces for brands such as Columbia, Silver Jeans, Carhartt, Timberland, and Levi’s.
Despite initial concerns that larger stores might reduce sales per square foot, Czank reported that the new format has resulted in double-digit sales increases and positive shifts in customer sentiment towards shopping at Mark’s. “Some of these metrics I actually had to go ask the team to go back and double check them because they were so good,” he remarked.
However, Czank acknowledged that the new format may not be suitable for every market, particularly in high-density urban areas like downtown Toronto or Vancouver, where space is limited. Nonetheless, he pointed out that even stores not undergoing conversion are benefiting from the insights and features derived from the revamped locations. “There’s plenty of opportunity, I think, for us to continue to grow with this,” he concluded, emphasizing that this initiative is just the beginning of a broader strategy for Mark’s.

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