Topic: How To Invest

Stock Pickers Digest Hotline – Friday, April 5, 2019

Article Excerpt

REITMANS (CANADA) LTD., $3.35, symbol RET.A on Toronto, owns 621 women’s clothing stores across Canada. Those outlets are divided among several brands: Reitmans (263 stores), Penningtons (115), Addition Elle (81), RW & Co. (83), Thyme Maternity (58). In the three months ended February 2, 2019, sales fell 14.1%, to $226.9 million from $264.2 million a year earlier. Revenue decreased mostly because of the net closure of 42 stores over the last year. As well, revenue was $19.2 million lower in the latest quarter due to the timing of the quarter-end compared to a year earlier. Same-store sales fell 5.3%. The retailer lost $8.9 million, or $0.14 a share. That’s up from a year-earlier loss of $1.9 million, or $0.03 a share. However, the latest loss included an $8.5 million decrease in the value of the company’s holdings of marketable securities, compared to a gain of $2.0 million a year ago. Reitmans’ balance sheet remains strong: the company holds cash and securities of $162.2 million,…

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