MONTRÉAL, Jan. 6, 2016 /CNW Telbec/ - Sales in December for the five weeks ended January 2, 2016 decreased 2.5%, impacted by a net reduction of 65 stores. Same store sales increased 4.8%, with stores increasing 2.3% and e-commerce sales increasing 40.0%.
Sales for the fourth quarter to date, being the nine weeks ended January 2, 2016, decreased 0.9% with 65 fewer stores in operation. Same store sales increased 6.7%, with stores increasing 3.7% and e-commerce sales increasing 53.7%.
In the fourth quarter to date, the Company closed 2 stores. Accordingly, at January 2, 2016, there were 773 stores in operation, consisting of 332 Reitmans, 135 Penningtons, 107 Addition Elle, 83 RW & CO., 68 Thyme Maternity, 17 Hyba and 31 Smart Set, as compared with 838 stores last year. In addition, there were 21 Thyme Maternity boutiques ("shop-in-shop") in select Babies"R"Us locations in Canada.
January 6, 2016
Jeremy H. Reitman,
Chairman and Chief Executive Officer
Telephone: (514) 385-2630
Corporate Website: www.reitmanscanadalimited.com
All of the statements contained herein, other than statements of fact that are independently verifiable at the date hereof, are forward-looking statements. Such statements, based as they are on the current expectations of management, inherently involve numerous risks and uncertainties, known and unknown, many of which are beyond the Company's control. Such risks include but are not limited to: the impact of general economic conditions, general conditions in the retail industry, seasonality, weather and other risks included in public filings of the Company, including those listed in the "Operating Risk Management and Financial Risk Management" sections of the Company's Management Discussion and Analysis for the year ended January 31, 2015. Consequently, actual future results may differ materially from the anticipated results expressed in forward-looking statements, which reflect the Company's expectations only as of the date of this press announcement. Forward-looking statements are based upon the Company's current estimates, beliefs and assumptions, which are based on management's perception of historical trends, current conditions and currently expected future developments, as well as other factors it believes are appropriate in the circumstances. Specific forward-looking statements in this press announcement include, but are not limited to, statements with respect to the Company's anticipated future results and events, future liquidity, planned capital expenditures, amount of pension plan contributions, status and impact of systems implementation, the ability of the Company to successfully implement its strategic initiatives and cost reduction and productivity improvement initiatives as well as the impact of such initiatives. The reader should not place undue reliance on any forward-looking statements included herein.These statements speak only as of the date made and the Company is under no obligation and disavows any intention to update or revise such statements as a result of any event, circumstances or otherwise, except to the extent required under applicable securities law.
SOURCE Reitmans (Canada) Limited
For further information: Jeremy H. Reitman, Chairman and Chief Executive Officer, Telephone: (514) 385-2630, Corporate Website: www.reitmanscanadalimited.com