CANADA: Reitmans Q2 Income Grows 22%
Clothing retailer Reitmans Canada Ltd has reported a 22 per cent growth in second-quarter income.
Earnings for the quarter were $29.2 million compared to $23.9m in the same period last year
Second-quarter net sales rose 6.4 per cent to $261.8 million compared to $246.0m in the same period last year. Same-store sales dropped 2.8 per cent in the period.
The company cited goods customer response and an increased number of stores to its positive results.
However, sales dropped 2.4 per cent in August - partially due to a truckers' strike, Reitmans believes.
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