Business

Winnipeg Free Press - PRINT EDITION

Reitmans reports decline in sales

By: Staff Writer

Posted: 01/4/2013 1:00 AM | Comments: 0

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

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

In which story did you find the error? *
Please post the headline of the story or the title of the video with the error.
What was the error? *
Please post exactly what was wrong with the story.
What should we have written?
Please indicate your source for the correct information.
Who else should we interview to improve this story?
Please include any contact information you may have.
Can we contact you in the future for advice on stories about this topic?
Yes

No
First Name: *
Last Name: *
E–mail Address: *
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.
Phone: *
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.
Colour:
Are you blue? If you can see this, leave it blank and get some CSS support.
Enter the words that you see: * This is to prevent our forms from being filled out automatically.
You have failed to correctly identify the words in the box above. Please try again.

More Business

Undock

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is register and/or login and you can join the conversation and give your feedback.

Have Your Say

New to commenting? Check out our Frequently Asked Questions.

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.