CANADA: Reitmans Posts Big Jump In Q1 Profit
Women's apparel chain Reitmans (Canada) Ltd of Montreal on Thursday posted a 21 per cent jump in first quarter earnings on the back of an eight per cent climb in total sales.
The operator of 627 outlets under the Reitmans, Smart Set, Penningtons, Dalmys and RW & Co brands, said net income for the 13-week period reached $5.1 million with sales up to $126m from $116.3m in the year-ago quarter.
It added that same-store sales edged up two per cent and it plans to open a total of 20 new stores this year.
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