Reitmans (Canada) Limited, one of Canada’s leading specialty apparel retailers, reported on Tuesday its financial results for the first quarter ended May 2, 2026, a slight uptick in revenue.
Highlights
- Net revenues grew 0.8% to $160.1 million for the quarter.
- Comparable sales, which include e-commerce net revenues, were up 0.3%.
- Gross profit % was stable for the quarter at 55.7%.
- Selling General & Administrative expenses decreased 2.2%
- Adjusted EBITDA improved by $5.2 million to $(5.4) million for the quarter.
“RCL delivered an improved first quarter compared to last year, with solid progress shown across the business despite a challenging economic environment,” said Andrea Limbardi, President and CEO of RCL. “Net revenues from our retail stores increased 2.9% as Canadians continued returning to stores, particularly in shopping malls. Our investments in the store fleet are beginning to pay off, with non‑comparable locations contributing more strongly to revenue growth. We also grew net revenues while operating with lower inventory during the quarter. Meanwhile, we lowered our SG&A expenses, largely through the workforce reduction as part of our strategic transformation.
“As part of ongoing efforts to optimize our store network, Reitmans unveiled a successful new concept flagship store at Carrefour Laval, just outside Montréal, Québec. After quarter-end, RW&CO completed the transformation of its Toronto Eaton Centre store to their new concept introduced last fall, and the store has exceeded expectations since reopening on May 29th, 2026.
“The difficult economic reality is impacting everyday Canadians – we hear it from our customers every day. The rise in fuel costs and the related effects are significant. We remain committed to being the best choice for Canadians for great fashion at exceptional value. We are confident in our strategy, our brands, and the work underway to build a stronger, more resilient RCL.”
The company said net revenues increased 0.8%, to $160.1 million, with seven fewer stores year-over-year at quarter end. Net revenues from retail stores increased by 2.9%, largely driven by stores not included in comparable sales, benefiting from the investments made in new stores. Comparable sales were up 0.3% compared to last year mainly from higher sales dollars per transaction.
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 387 stores under three distinct banners consisting of 217 Reitmans, 85 PENN., and 85 RW&CO.
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