I bought my new bike here a few weeks ago. I was looking at buying a low end bike at Canadian Tire, but didn't see anything that I liked after 2 trips. When I went to the bike store, they had a few good options in the $500, which blew away any offerings at Canadian Tire. They sold me a solid hybrid bike for $500 with tax and did the full setup for me.
It's a good deal considering they offer free tuning and adjustments when you need them. If you are looking for an inexpensive bike, I think it's worth spending the extra money to go for a quality bike.