Canadian Pacific Inks Multi-Year Contract Extension With Canadian Tire

Canadian Pacific Railway Ltd CP and Canadian Tire Corp Ltd CDNAF entered a multi-year agreement to continue moving the retailer's goods in Canada. Deal terms were not disclosed.
The agreement establishes the ability for Canadian Tire to explore sourcing and optionality opportunities with CP's network reach.
To support the efficient movement of CTC's goods and reduce carbon emissions, CP will begin directly serving Ashcroft Terminal in Ashcroft, B.C., reducing the need to shift volumes to trucks.
Price Action: CP shares are trading higher by 0.42% at $71.72 and CDNAF at $141.61 on the last check Tuesday.