Reitmans sales are up in second quarter
Reitmans sales are up, according to the Canadian retailers’ quarterly earnings statement released on Thursday.
Sales for the three month period which ended on July 30, 2016 were up at $254.4 million as compared with $253 million for the three months ended August 1, 2015. Same store sales equally increased 6.3 percent, being the companies ninth consecutive quarter of increased same store sales.
Despite an increase of 2.9 percent in gross profit for the three month period to $143.2 million, gross profit for its six month period was slightly lower than last years at $256,6 million compared to $259,2 million.
Still, net earnings increased $10.9 million for the six months which ended on July 30, 2016 to $3 million ($0.05 basic and diluted earnings per share).
Reitmans is a leading ladieswear specialty apparel retailer with retail outlets throughout Canada. The Company operates 719 stores consisting of 307 Reitmans, 130 Penningtons, 103 Addition Elle, 82 RW & CO., 63 Thyme Maternity, 19 Hyba and 15 Smart Set locations.
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