Reitmans (Canada) Ltd. $4.24 – Toronto symbol RET.A
Article Excerpt
REITMANS (CANADA) LTD. $4.24 (Toronto symbol RET.A; TSINetwork Rating: Extra Risk) (514-384- 1140; www.reitmans.com; Shares outstanding: 64.6 million; Market cap: $269.3 million; Dividend yield: 4.7%) owns 750 women’s clothing stores across Canada.
Those outlets are divided among several brands: Reitmans (327 stores), Penningtons (130), Addition Elle (104), RW & Co. (83), Thyme Maternity (68), Smart Set (23) and Hyba (17). The company also has 21 Thyme Maternity boutiques in Canadian Babies “R” Us stores.
On October 8, 2015, the company opened its 17 new Hyba women’s activewear stores across Canada. Activewear is one of the country’s fastest growing clothing categories.
In the three months ended April 30, 2016, Reitmans’ sales rose 0.9%, to $203.5 million from $201.7 million a year earlier. Revenue increased despite the closure of 60 stores (mostly Smart Set locations) over the last year. Same-store sales gained 8.8%.
In the quarter, the retailer lost $6.0 million, or $0.09 a share, compared to its loss of $7.7 million, or $0.12 a share,…
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