TORONTO — Canadian Tire Corp. Ltd. is rolling out a new strategy that will see it invest $2 billion over four years to restructure the company for growth but will also mean the closure of some stores.

Canadian Tire profit rose as improving consumer sentiment and spending helped return sales to growth in the fourth quarter across its banners, but missed expectations for the period.

Canadian Tire Corp. Ltd. CTC-T has agreed to sell its ... in annual revenue and $50-million in earnings before interest, tax, depreciation and amortization (EBITDA), according to the company.