Reitmans Limitee, a Canadian women's specialty apparel retailer, has posted 11.0 per cent sales decline to $163.4 million (Canadian dollars) in its third quarter (Q3) for FY21 ended on October 31, 2020 compared to sales of $183.6 million in same period last year. Company incurred a net loss during the quarter to $14.5 million (Q3 FY20: $23.0 million).
Reitmans Limitee, a Canadian women's specialty apparel retailer, has posted 11.0 per cent sales decline to $163.4 million (Canadian dollars) in its third quarter (Q3) for FY20 ended on October 31, 2020 compared to sales of $183.6 million in same period last year. Company incurred a net loss during the quarter to $14.5 million (Q3 FY19: $23.0 million).#
Sales during the quarter decreased due to a net reduction of 35 stores, as well as store traffic trends in Q3 FY21 that were below pre-pandemic levels, partially offset by an increase in e-commerce sales.
Reitmans Limitee, a Canadian women's specialty apparel retailer, has posted 11.0 per cent sales decline to $163.4 million (Canadian dollars) in its third quarter (Q3) for FY20 ended on October 31, 2020 compared to sales of $183.6 million in same period last year. Company incurred a net loss during the quarter to $14.5 million (Q3 FY19: $23.0 million).#
Gross profit was down to $81.5 million ($96.7 million), while selling and distribution expenses slipped to $78.4 million ($89.9 million).
ALCHEMPro News Desk (JL)
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