Women's apparel group Reitmans (Canada) Ltd on Tuesday posted a 9.7 per cent jump in third quarter net profit to C$8.2 million from C$7.5m in the year-ago period as it was boosted by its recent acquisition of Shirmax Fashions.

The Montreal-based operator of more than 800 stores said sales for the 13 weeks ended November 2 climbed 44.5 per cent to C$207.3m from C$143.5m in 2001, with same-store sales up 0.9 per cent. It also revealed November same-store slipped 6.3 per cent.

Reitmans acquired Shirmax of Montreal for C$87m in June, adding 175 stores to its exiting line-up of Penningtons, Reitmans, Smart Set-Dalmys and Addition-Elle stores.

Separately on Tuesday, Reitmans said it has sold Spanish fashion giant Inditex SA its minority interest in its Canadian operations which will lead to a pre-tax gain of approximately C$1m.