Reitmans (Canada) Limited, one of Canada’s leading specialty apparel retailers, reported on Thursday its financial results for the fourth quarter and year ended January 31, 2026.
Highlights
- Net revenues grew 1.2% to $207.2 million for the quarter and 0.4% to $776.8 million for the year.
- Comparable sales, which include e-commerce net revenues, were up 0.4% for the quarter but were down 0.7% for the year.
- Gross profit % increased 300 basis points for the quarter but was down 30 basis points for the year.
- Selling General & Administrative (SG&A) expenses, excluding strategic transformation expenses, were relatively flat in the quarter and higher by $3.5 million for the year.
- Adjusted EBITDA grew by $4.8 million to $2.2 million for the quarter but decreased $6.7 million to $18.7 million for the year, mostly due to the first quarter results.
- Net loss was $4.9 million for the quarter and $0.9 million for the year.
“RCL had a solid fourth quarter, with year-over-year growth in net revenues, gross profit margin, and adjusted EBITDA,” said Andrea Limbardi, President and CEO of RCL. “Comparable sales were up 0.4%, but we achieved this with fewer promotions, as we performed particularly well during the peak Holiday moments. We continued to advance our five-year strategic plan, Designed for the Future, with the launch of our new brand websites on Shopify, as well as opening the first RW&CO’s menswear–only pop-up store in Yorkdale Shopping Centre in Ontario and a Reitmans store in British Columbia. We also launched a significant initiative to reorganize our workforce, representing $5.5 million in strategic transformation expenses during the quarter, which we expect to drive improved productivity beginning in fiscal 2027.
“While our five-year strategy is still in its early days, we made substantial progress in fiscal 2026. We made significant investments in our footprint and brands, completing 13 new store openings, 2 additional relocations, 5 expansions, and refreshing 17 locations. We also closed 15 stores to sharpen our focus on more optimal locations. The opening of the RW&CO Saint–Bruno flagship marked an important step for the brand’s elevated positioning, along with continued strong performance in menswear; Reitmans customers responded well to a continued shift in perception and the introduction of on–trend collections throughout the year; and PENN. introduced its new store experience sales model, which has since been rolled out across the entire chain.
“In fiscal 2027, RCL will continue to focus on disciplined execution, strengthening customer experience, and advancing its strategic investment in stores. Significantly, the Reitmans brand will open a new Carrefour Laval flagship location in April 2026. As we enter our 100th year in business, and as our strategy progresses, RCL is evolving into a more resilient business and is positioning itself to deliver strong, sustainable growth in the years ahead.”
Reitmans (Canada) Limited is one of Canada’s leading specialty apparel retailers for women and men, with retail outlets throughout the country. The company operates 388 stores under three distinct banners consisting of 218 Reitmans, 85 PENN., and 85 RW&CO.
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