Giant Tiger\u0027s CEO Paul Wood left amid the worst inflation crisis in 40 years, complicating the retailer\u0027s plans to deliver savings. Read on.
That policy also keeps storerooms small so it doesn’t have to pay for expensive big-box store space. Giant Tiger further reduces costs by keeping to a spare store design, for example choosing simple light fixtures, so it can pass those savings onto customers.
Keeping frugal is key to navigating a difficult macroeconomic environment with the potential to stunt growth, Wood said. To that end, this year Giant Tiger is cutting back on physical flyers and has whittled down its print advertising in favour of digital alternatives. The retailer also encourages employees at every level of the company to work to keep sticker prices low. “We’re working together to serve the customer.
Though Wood is no longer CEO, Scarlett said the company will keep to that low-cost vision. “Giant Tiger’s focus remains on providing Canadians with the products and groceries they need at the lowest price possible every day. We are proud to serve the 264 communities we call home and look forward to expanding further in the future,” she said.
Correction: An earlier version of this story incorrectly stated that Paul Wood had been fired as CEO. The mistake was the result of a misinterpretation of the company’s statement. The Financial Post regrets the error.
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