The Globe and Mail reports in its Friday, Nov. 13, edition that Canadian Tire sees a challenging holiday shopping season ahead. The Globe's Susan Krashinsky Robertson writes that Canadian Tire chief executive officer Greg Hicks says: "The consumer psyche is still on high alert. The clouds of geopolitics and macroeconomics haven't cleared." Worsening consumer sentiment from August to September this year represented one of the biggest drops the company has seen since it began tracking this on a monthly basis. Mr. Hicks notes that industry reports are suggesting that holiday spending will be "constrained." Mr. Hicks says Canadian Tire is cutting prices on thousands of items as shoppers are making trade-offs and continuing to spend when prices are right. He adds, "I wouldn't confuse a cautious consumer with an absent consumer." Canadian Tire has also recognized that it has not done a good enough job offering holiday supplies at lower price points. This season, the stores will launch cheaper items such as gift bags and wrapping under $2, and 99-cent ornaments -- a signal that it is trying harder to take holiday business away from value-oriented competitors such as Walmart and Dollarama.