Last C$5.93 CAD
Change Today -0.07 / -1.17%
Volume 45.3K
As of 3:59 PM 11/27/14 All times are local (Market data is delayed by at least 15 minutes).

reitmans (canada) ltd-a (RET/A) Snapshot

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52 Week High
12/23/13 - C$7.05
52 Week Low
12/4/13 - C$5.36
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Current Stock Chart for REITMANS (CANADA) LTD-A (RET/A)

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reitmans (canada) ltd-a (RET/A) Details

Reitmans (Canada) Limited operates as a ladies’ wear specialty apparel retailer in Canada. Its stores offer tops, pants, dresses, coats, jeans, sweaters, outerwear, capris, jackets and blazers, skirts, shorts and skorts, lingerie, and accessories; shoes, boots, and sandals; and accessories, including jewelry, sunglasses, scarves, belts, purses and bags, tights and leggings, and gift cards. The company operates its stores under the Reitmans, Smart Set, RW & CO., Thyme Maternity, Penningtons, and Addition Elle banners in malls, retail power centers, strip plazas, and on shopping streets. It also operates 23 Thyme Maternity boutiques in Babies 'R' Us locations in Canada, as well as provides access to e-commerce Website shopping through the Babies 'R' Us Canadian Website. As of April 5, 2014, it operated 868 stores consisting of 346 Reitmans, 125 Smart Set, 77 RW & CO., 69 Thyme Maternity, 149 Penningtons, and 102 Addition Elle stores. The company also operates an e-commerce Website for Reitmans, Penningtons, and Addition Elle banners. Reitmans (Canada) Limited was founded in 1926 and is based in Montreal, Canada.

Founded in 1926

reitmans (canada) ltd-a (RET/A) Top Compensated Officers

Chairman and Chief Executive Officer
Total Annual Compensation: C$750.0K
President and Director
Total Annual Compensation: C$750.0K
Chief Financial Officer and Vice President of...
Total Annual Compensation: C$320.0K
Chief Operating Officer and President of Reta...
Total Annual Compensation: C$507.7K
Senior Vice-President and President of Smart ...
Total Annual Compensation: C$500.0K
Compensation as of Fiscal Year 2014.

reitmans (canada) ltd-a (RET/A) Key Developments

Reitmans (Canada) Limited Plans to Close 107 Smart Set Stores over the Next Twelve to Eighteen Months

Reitmans (Canada) Limited announced that it has initiated a plan to enhance profitability which involves the closing of its 107 Smart Set stores over the next twelve to eighteen months. Despite some improvements in the performance of the Smart Set banner, management has determined that its optimum strategy to improve its operating results is to refocus its sales and merchandising efforts by converting approximately 76 Smart Set stores to other company banners and 31 store closures. The Smart Set banner represents approximately 10% of total annual sales of the company, amounting to approximately $96 million for the 12 months ended February 1, 2014. Costs associated with the Smart Set banner closure comprise non-cash asset write-offs of approximately $2.2 million after tax to be reflected in the company's third quarter results. The company does not anticipate inventory write-downs or material employee severance costs.

Reitmans Mulls Selling Smart Set Stores

Reitmans Canada Ltd. (TSX:RET.A) is looking for buyers for Smart Set stores. Jeremy Reitman, Chief Executive Officer of Reitmans, said selling Smart Set is "a possibility" but the company is more inclined to downsize the chain. It is "looking for offers" to divest about 70 of its 113 Smart Set store leases, including in prominent locations such as the Toronto Eaton Centre.

Reitmans (Canada) Limited Declares Quarterly Cash Dividend Payable on October 23, 2014

Reitmans (Canada) Limited declared a quarterly cash dividend (constituting eligible dividends) of $0.05 per share on all outstanding Class A non-voting and common shares of the company was declared, payable on October 23, 2014 to shareholders of record on October 9, 2014.


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