Canadian retailer Reitmans Limitee reports Q1 FY22 sales of $121 mn

Lynn Imbier

Reitmans Limitee, a Canadian women’s specialty attire retailer, has posted 49.two for each cent revenue progress to $121.three million (Canadian bucks) in its first quarter (Q1) of FY22 ended on May one, 2021, in contrast to revenue of $eighty one.three million in very same interval of former fiscal. The company’s […]

Reitmans Limitee, a Canadian women’s specialty attire retailer, has posted 49.two for each cent revenue progress to $121.three million (Canadian bucks) in its first quarter (Q1) of FY22 ended on May one, 2021, in contrast to revenue of $eighty one.three million in very same interval of former fiscal. The company’s a gross gain for Q1 FY22 was $fifty nine.nine million (Q1 FY21: $28.six million).

 

“As of May one, 2021, the corporation experienced 181 out of its 415 retailers (forty four for each cent) shut as a consequence of governmental lockdown directives. Throughout the first quarter of 2021, all of the company’s retailers were shut for forty seven consecutive days. Whilst retailers remained shut through partial or whole lockdowns, the corporation ongoing to fulfil e-commerce orders though revenue were not sufficient to offset the shed revenue thanks to the closures,” the corporation reported in a push release.

 

The advertising, general and administrative charges for Q1 FY22 was $fifty nine.5 million ($eighty four.5 million). Internet decline for the 3-month interval lowered to $. million ($74.seven million).

 

“As at the date of this MD&A, the corporation has fifty seven Ontario retailers temporarily shut and is matter to important capability constraints in numerous locations. The extent to which Covid-19 will proceed to influence the company’s business, such as its offer chain, consumer shopping behaviour and consumer demand, such as on line shopping, will depend on future developments, which are extremely uncertain and simply cannot be predicted at this time,” the corporation extra.

Fibre2Fashion Information Desk (JL)

Reitmans Limitee, a Canadian women’s specialty attire retailer, has posted 49.two for each cent revenue progress to $121.three million (Canadian bucks) in its first quarter (Q1) of FY22 ended on May one, 2021, in contrast to revenue of $eighty one.three million in very same interval of former fiscal. The company’s a gross gain for Q1 FY22 was of $fifty nine.nine million (Q1 FY21: $28.six million).

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