Winnipeg Free Press - PRINT EDITION

Reitmans reports decline in sales

  • Print

MONTREAL -- Reitmans shares closed down four per cent Thursday after the retailer reported a drop in sales for the five weeks spanning the holiday shopping period.

The clothing retailer (TSX:RET.A) said sales fell 5.4 per cent for the five weeks ended Dec. 29, while same-store sales were down 3.4 per cent.

For the fourth quarter to date, sales were down five per cent while same-store sales were off 2.4 per cent.

On Thursday, Reitmans shares were down 52 cents to close at $11.98 on the Toronto Stock Exchange.

In a release, the retailer said it opened nine new stores and closed one since late October.

In November, Reitmans reported it earned $38,000 in the third quarter, down from $10.6 million a year ago, as sales were hurt by a problem in shipping products to stores.

It said the profit amounted to break-even on a per-share basis for the quarter ended Oct. 27 compared with a profit of 16 cents per share a year ago.

 

-- The Canadian Press

Republished from the Winnipeg Free Press print edition January 4, 2013 B12

Fact Check

Fact Check

Have you found an error, or know of something we’ve missed in one of our stories?
Please use the form below and let us know.

* Required
  • Please post the headline of the story or the title of the video with the error.

  • Please post exactly what was wrong with the story.

  • Please indicate your source for the correct information.

  • Yes

    No

  • This will only be used to contact you if we have a question about your submission, it will not be used to identify you or be published.

  • Cancel

Having problems with the form?

Contact Us Directly
  • Print

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

Have Your Say

New to commenting? Check out our Frequently Asked Questions.

Have Your Say

Comments are open to Winnipeg Free Press print or e-edition subscribers only. why?

Have Your Say

Comments are open to Winnipeg Free Press Subscribers only. why?

The Winnipeg Free Press does not necessarily endorse any of the views posted. By submitting your comment, you agree to our Terms and Conditions. These terms were revised effective April 16, 2010.

letters

Make text: Larger | Smaller

LATEST VIDEO

Glenn January won't blame offensive line for first loss

View more like this

Photo Store Gallery

  • PHIL.HOSSACK@FREEPRESS.MB.CA 090728 / WINNIPEG FREE PRESS White Pelicans belly up to the sushi bar Tuesday afternoon at Lockport. One of North America's largest birds is a common sight along the Red RIver and on Lake Winnipeg. Here the fight each other for fish near the base of Red RIver's control structure, giving human fisher's downstream a run for their money.
  • Two baby tigers were unveiled at the Assiniboine Park Zoo this morning, October 3rd, 2011. (TREVOR HAGAN/WINNIPEG FREE PRESS)

View More Gallery Photos

Poll

Should the city grant mosquito buffer zones for medical reasons only?

View Results

View Related Story

Ads by Google