Tariff threats substantially erased economic rebound: Canadian Tire CEO – National [Video]

Canadian Tire Corp. Ltd.’s CEO says consumers have started to ease up on the frugality they adopted to cope with the economic slowdown, but that progress has likely been “substantially erased” by tariff threats.

Greg Hicks, who runs the retailer and its SportChek, Mark’s and Party City banners, said Thursday that the chains have noticed a succession of interest rate cuts have had a “distinct positive psychological effect on consumers,” coaxing many to pick up their spending.

Yet Hicks worries the trend is fleeting.

“The short story is that like our business, the economy is in a much better place than it was a year earlier,” he told analysts on a conference call.

“The long story is a bit more complex.”

The complexity is coming from a few fronts. Though consumer confidence ended the year on an uptick, he said it remains low and stands to be hampered by a forthcoming cycle of mortgage renewals that will keep shelter costs high.

It could also be …