Retailer Reitmans saw an increase in comparable store sales as profits rose 26.9% in the year to January 28.

The company's portfolio of stores increased by a net figure of 20 during the year, driving a 6.2% increase in sales to C$969.3m (US$828.7m), but comparable store sales were up 2.9% in the same period.

Net earnings after tax stood at C$84.9m, or C$1.22 per share, up 26.9% on fiscal 2004.

Reitmans also reported a strong fourth quarter performance, with sales up 7.8% to C$255.1m and comparable store sales up 5.1%.

During the year, the company opened 46 new stores and closed 26 outlets, leaving a total of 887 in operation at the end of the year.