National Sports losing Oakville location as part of chain-wide closure
Published February 22, 2021 at 10:51 am
National Sports will be shutting down its Oakville retail operation as part of a plan to close all of the stores.
The Oakville location is at 210 North Service Rd. W. in Oakville Town Centre II.
Parent company Canadian Tire says it is closing down the stores to reduce overlap in the company’s sporting goods sales and to gain financial efficiencies. Many of the stores have been closed during the pandemic, but have been offering curbside pickup and online orders.
Gregory Craig, the retailer’s chief financial officer, told investors that all 18 stores that are located in Southern Ontario will be closing.
He says it was a difficult decision for the company because of its impact on people.
Craig says the company is making every effort to place affected employees within the retailer’s family of stores, which includes Canadian Tire, SportChek and Mark’s.
The company made the announcement even though sales have been strong for hockey and other sports equipment during the pandemic. Fourth-quarter profit and revenue both rose significantly compared with a year ago at $4.87 billion, up from $4.32 billion.
National Sports was started by entrepreneur Norm Clements in 1968. It was subsequently sold to SportChek which was eventually acquired by Canadian Tire.
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