AutoCanada (TSE:ACQ) has released an update.
AutoCanada Inc. has announced a strategic restructuring of its RightRide business, closing several underperforming locations and retaining a select group of profitable stores. The company aims to refocus on its core strategy of providing credit solutions for used light vehicle customers, which is expected to enhance market position and profitability. This change comes after RightRide operations reported sales of $34.9 million in the past year, with the closure of locations anticipated to positively impact Adjusted EBITDA and earnings per share.
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