MONTREAL, Jan. 7, 2014 /CNW Telbec/ - Sales in December for the five weeks ended January 4, 2014 decreased 5.3% while same store sales decreased 5.2%.
Sales for the fourth quarter to date, being the nine weeks ended January 4, 2014, decreased 2.5% while same store sales decreased 2.8%.
In the fourth quarter to date, the Company opened 1 new store and 5 were closed. Accordingly, at January 4, 2014, there were 891 stores in operation, consisting of 353 Reitmans, 136 Smart Set, 77 RW & CO., 71 Thyme Maternity, 152 Penningtons and 102 Addition Elle, as compared with 931 stores last year. In addition, there were 23 Thyme Maternity boutiques ("shop-in-shop") in select Babies"R"Us locations in Canada and 169 in the United States.
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. Consequently, actual future results may differ materially from the anticipated results expressed in forward-looking statements. The reader should not place undue reliance on the 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.reitmans.ca