Last C$6.38 CAD
Change Today -0.02 / -0.31%
Volume 417.7K
RET/A On Other Exchanges
Symbol
Exchange
Toronto
Toronto
OTC US
OTC US
Frankfurt
As of 4:51 PM 12/19/14 All times are local (Market data is delayed by at least 15 minutes).

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

Open
C$6.39
Previous Close
C$6.40
Day High
C$6.60
Day Low
C$6.31
52 Week High
12/23/13 - C$7.05
52 Week Low
03/14/14 - C$5.45
Market Cap
405.7M
Average Volume 10 Days
246.7K
EPS TTM
C$0.06
Shares Outstanding
51.1M
EX-Date
01/15/15
P/E TM
112.1x
Dividend
C$0.20
Dividend Yield
3.13%
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 Ltd. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended November 1, 2014; Reports Impairment Loss on Available-for-Sale Financial Assets for the Third Quarter and Nine Months Ended November 1, 2014; Declares Quarterly Dividend on Class A Non-Voting and Common Shares, Payable on January 29, 2015

Reitmans Canada Ltd. announced unaudited consolidated earnings results for the third quarter and nine months ended November 1, 2014. For the quarter, the company reported sales of CAD 238,295,000 compared to CAD 249,414,000 for the same period of last year. Results from operating activities were CAD 8,933,000 compared to CAD 5,322,000 for the same period of last year. Earnings before income taxes were CAD 16,228,000 compared to CAD 7,792,000 for the same period of last year. Net earnings were CAD 12,866,000 compared to CAD 5,763,000 for the same period of last year. Basic and diluted earnings per share were CAD 0.20 compared to CAD 0.09 a year ago. Adjusted EBITDA was CAD 31,128,000 compared to CAD 21,011,000 for the same period of last year. Net cash flows from operating activities were CAD 17,392,000 compared to net cash flows used in operating activities of CAD 737,000 for the same period of last year. Additions to property and equipment and intangible assets were CAD 9,412,000 compared to CAD 10,139,000 for the same period of last year. The increase in earnings before income taxes and improvement in adjusted EBITDA were primarily attributable to the closure of non performing stores and previously reported initiatives aimed at reducing costs across the organization. For the nine months, the company reported sales of CAD 703,099,000 compared to CAD 719,720,000 for the same period of last year. Results from operating activities were CAD 7,473,000 compared to CAD 11,529,000 for the same period of last year. Earnings before income taxes were CAD 11,291,000 compared to CAD 17,876,000 for the same period of last year. Net earnings were CAD 9,008,000 compared to CAD 13,359,000 for the same period of last year. Basic and diluted earnings per share were CAD 0.14 compared to CAD 0.21 for the same period of last year. Adjusted EBITDA was CAD 50,663,000 compared to CAD 62,317,000 for the same period of last year. Net cash flows from operating activities were CAD 22,734,000 compared to CAD 23,757,000 for the same period of last year. Additions to property and equipment and intangible assets were CAD 22,191,000 compared to CAD 29,039,000 for the same period of last year. Sales were impacted by particularly poor weather in the first quarter contributing to weak demand for spring and summer apparel followed by improvement in sales for the second quarter as consumers responded well to the summer fashion offerings. The decrease in earnings before income taxes and reduction in adjusted EBITDA were primarily attributable to a significant decline in the Canadian dollar vis-à-vis the U.S. dollar resulting in increased costs of goods sold and a significant loss on the remeasurement to fair value of foreign currency option contracts somewhat reduced by a foreign exchange gain attributable to foreign currency option contracts expiring at favorable exchange rates. For the quarter, the company reported impairment loss on available-for-sale financial assets of CAD 564,000 against CAD 190,000 a year ago. The company at its Board of Directors meeting held on December 4, 2014, declared quarterly cash dividend (constituting eligible dividends) of CAD 0.05 per share on all outstanding Class A non-voting and common shares, payable on January 29, 2015 to shareholders of record on January 19, 2015.

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.

 

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