A rebound in positive consumer sentiment over the past few months has been “substantially erased with tariff talk,” Greg Hicks, CEO of the Toronto-headquartered retail company, said in an earnings call Thursday. He said the company is most concerned about the indirect impact of the tariffs, including “their potential to slow down Canadian GDP and employment trends.” (The Logic)

Talking point: Hicks also said Canadian Tire is “reviewing products in U.S. suppliers and assessing alternatives to the inevitable inflationary pressure these tariffs would deliver.” The company only purchases 15 per cent of goods directly from the U.S., Hicks said, and is facing “minor residual impacts” from China and Mexico tariffs—but economic slowdown and reduced consumer spending pose the largest threat. Consolidated comparable sales rose around one per cent year over year in the fourth quarter, while net profit more than doubled.