Reitmans (Canada) Limited Reports Second Quarter Financial Results

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Reitmans (Canada) Limited Reports Second Quarter <a href="https://bitcomme.com/rising-diesel-prices-deepen-financial-strain-for-nc-farmers/” title=”Rising diesel prices deepen financial strain for NC farmers”>Financial Results

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MONTREAL, Sept. 17, 2026 /CNW/ — Reitmans (Canada) Limited (“RCL” or the “Company”) (TSXV: RET) (TSXV: RET-A), one of Canada’s leading specialty apparel retailers, today reported its financial results for its second quarter of fiscal 2027. Unless otherwise indicated, all comparisons of results for the second quarter ended August 1, 2026, are to the second quarter ended August 2, 2025, and all comparisons of results for the year to date ended August 1, 2026, are to the year to date ended August 2, 2025. All dollar amounts are in Canadian currency.

• Gross profit margin increased 160 basis points to 58.5%.

• Net revenues decreased 1.9% to $211.8 million and comparable sales1 decreased 1.5%.

• Adjusted EBITDA1 was $18.8 million, $2.6 million below last year.

• Net earnings were $10.1 million, or $0.20 per share.

“Our second quarter reflected deliberate, strategic execution across our brands,” said Andrea Limbardi, President and CEO of RCL. “While net revenues were modestly below last year, we meaningfully improved gross margin through stronger regular-price selling, a more disciplined promotional strategy and tighter inventory management. Inventory ended the quarter approximately 5.2% below last year, supporting improved merchandise margins and positioning us well for the balance of the year.”

“Performance varied by channel during the quarter. Our comparable store sales increased and we saw continued strong momentum in our new flagship locations. The recently converted Reitmans concept flagship at Carrefour Laval and the expanded and renovated RW&CO Toronto Eaton Centre flagship both delivered double-digit sales growth. E-commerce revenues were lower than last year as we reduced clearance and promotional activity.”

“The improvement in gross profit was offset by higher operating expenses, including freight costs, rent, store wages and advertising investments, as well as early work to develop a loyalty program. During the quarter, Reitmans marked its 100th anniversary through our ‘We’ve Evolved’ campaign and partnership with the WNBA’s Toronto Tempo, initiatives that strengthened the brand’s fashion and cultural relevance and generated encouraging shifts in brand perception.”

“With a strong balance sheet and clear strategic priorities, we remain focused on disciplined execution, strengthening the customer experience across channels and advancing the initiatives that support sustainable, profitable growth over the long term.”