Canada's Reitmans Q1 net loss narrows on lower SG&A expenses

Reitmans Canada

16/06/2026 22:12

Overview
Canada specialty apparel retailer's Q1 revenue rose 0.8% yr/yr despite lower store count
Q1 adjusted EBITDA loss narrowed 49% yr/yr, helped by lower SG&A expenses
Company repurchased 235,600 shares for C$0.5 mln under its buyback program

Outlook
Company did not provide specific financial guidance for the current or future periods

Result Drivers
RETAIL STORE TRAFFIC - Co said net revenues from retail stores rose 2.9% as Canadians returned to stores, especially in shopping malls
NEW STORE INVESTMENTS - Revenue growth was supported by investments in the store fleet and stronger contributions from non-comparable locations
COST REDUCTIONS - SG&A expenses fell 2.2%, mainly due to workforce reductions as part of strategic transformation

Company press release: ID:nCNWkLZNma

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
 
C$160.10 mln
 
Q1 EPS
 
-C$0.13
 
Q1 Net Income
 
-C$6.30 mln
 
Q1 Adjusted EBITDA
 
-C$5.40 mln
 
Q1 Gross Profit
 
C$89.10 mln

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)