Jan 7, 2017
Reitmans sees sales increase in December
Jan 7, 2017
Canadian retailer Reitmans continued to see sales increase during the holiday season, following a strong three and nine-month period.
Sales in December for the five weeks, which ended December 31, 2016 increased 4.4 percent. Same store sales increased 9.5 percent, with stores increasing 4.5 percent and e-commerce sales increasing 60 percent. The company has experienced strong growth in its e-commerce channel throughout the year.
Sales for the fourth quarter to date, increased 2.5 percent.
As of December 31, 2016, the womenswear specialty apparel retailer operates 693 stores, consisting of 302 Reitmans, 127 Penningtons, 97 Addition Elle, 85 RW & CO., 63 Thyme Maternity and 19 Hyba stores, as compared with 773 stores last year.
Reitmans will continue to close retail locations as the Company tries to optimize performance in select markets.
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