REITMANS (CANADA) LTD. $24.39 (Toronto symbol RET.A; SI Rating: Extra Risk) (514-384-1140; www.reitmans.com; Shares outstanding: 71.3 million; Market cap: $1.7 billion) is Canada’s largest specialty women’s wear retailer.
The company now has 929 stores in operation, consisting of 357 Reitmans, 158 Smart Set/Dalmys, 158 Penningtons, 46 RW & Co., 126 Addition Elle, 72 Thyme Maternity and 12 Cassis stores.
In the three months ended May 5, 2007, Reitmans’ revenues rose 3.5%, to $230.7 million from $223 million. However the sales increase was due to the net addition of 42 stores from a year earlier. Comparable store sales fell 6.5% due to unseasonable weather in the latest quarter. This reduced customer traffic and hurt demand for apparel.
Earnings fell 15.2% in the quarter, to $18.4 million or $0.26 a share, from $21.7 million or $0.31 a share a year earlier. Cash flow fell 13.1%, to $27.6 million or $0.39 a share, from $31.8 million or $0.45. The shares now yield 2.6%.
Reitmans’ balance sheet is…
Privacy Policy and Terms of Use
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Does TSI Network Use the Information It Receives?
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Changes to this Policy
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