RET.TO - Reitmans (Canada) Limited

Toronto - Toronto Delayed Price. Currency in CAD
0.2700
0.0000 (0.00%)
As of 3:55PM EDT. Market open.
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Performance Outlook
  • Short Term
    2W - 6W
  • Mid Term
    6W - 9M
  • Long Term
    9M+
Previous Close0.2700
Open0.2700
Bid0.2700 x 0
Ask0.2700 x 0
Day's Range0.2500 - 0.2750
52 Week Range0.1800 - 3.0800
Volume22,200
Avg. Volume24,512
Market Cap6.286M
Beta (5Y Monthly)0.95
PE Ratio (TTM)N/A
EPS (TTM)-1.5620
Earnings DateMay 01, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateOct 09, 2019
1y Target EstN/A
Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth Rate. Estimated return represents the projected annual return you might expect after purchasing shares in the company and holding them over the default time horizon of 5 years, based on the EPS growth rate that we have projected.
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    • CNW Group

      Reitmans (Canada) Limited Provides Update on CCAA Process

      The Company filed for creditor protection and obtained an initial order under the CCAA on May 19, 2020 , which was amended and restated today. MONTREAL , May 29, 2020 /CNW Telbec/ - Reitmans ( Canada ) Limited ("Reitmans" or the "Company") provides update today following its filing for creditor protection pursuant to the Companies' Creditors Arrangement Act (the "CCAA") on May 19, 2020 . The Company has obtained an extension of the Initial Order and the Québec Superior Court issued an Amended and Restated Initial Order pursuant to the CCAA for an additional period of 60 days, until July 29, 2020.

    • Bloomberg

      Retail Chain Reitmans Seeks Bankruptcy Protection in Canada

      (Bloomberg) -- Reitmans (Canada) Ltd. has filed for bankruptcy protection after the pandemic forced it to close all its stores and aggravated the apparel retailer’s already-weakening business.The virus outbreak has “pushed the retail industry into a new and unknown era,” the Montreal-based clothier said in a statement Tuesday. The company, with roots going back nearly a century, operates about 576 stores and employs 6,800 people worldwide under brands that include Addition Elle, RW & Co. and Thyme Maternity. It requested court protection through the Companies’ Creditors Arrangement Act in Canada.Application under the CCAA will be heard by the Quebec Superior Court Tuesday. The company expects to remain fully operational through e-commerce. Physical stores will reopen when provincial and regional government guidelines allow it, the company said. Ontario is allowing retailers with street access to open their doors Tuesday, but indoor shopping malls remain closed.Reitmans is the latest retailer to file for bankruptcy protection since measures to fight the pandemic put countries into lockdown mode. Footwear retailer Aldo Group Inc. also began a court restructuring process earlier this month, while luxury retailer Neiman Marcus Group Inc. filed for Chapter 11 protection in Texas and J.C. Penney Co. Inc. filed last week.The retailer is trying to secure interim financing, it said in the statement, without providing details. It’s also in discussions with lenders for a permanent financing upon exit from the restructuring process.Rising LossesThe retailer temporarily laid off 90% of its store employees and 30% of the workers in its headquarters as a result of the pandemic. It has also reduced wages of its remaining staff. Among its most significant creditors as of Feb. 1, Reitmans listed “various trade and other payables” owed around C$109 million. Ernst & Young Inc. was appointed as the monitor in the Canadian proceedings.Reitmans was already in a difficult state before the virus. The company’s net loss for the quarter ending Feb. 1 was C$51.7 million ($37.2 million), compared with a net loss of C$8.9 million in the same quarter a year earlier. Sales rose 1% and gross profit declined.Asked about the filing during his daily press conference Tuesday, Quebec Premier Francois Legault said his government is looking for ways to help as many retailers as possible, including larger chains like Reitmans. “We want this institution to survive,” he said.The retailer, a go-to for women’s office wear at a reasonable price, was founded in 1926 in Montreal and bears the name of the family that started the business.The class A shares, which are non-voting, had not traded Tuesday as of 3 p.m. Toronto time. They closed Friday at 7.5 Canadian cents, having lost almost all their value in the past year.(Adds comments from Quebec Premier and details from CCAA filing, beginning in the sixth paragraph, and share price in last paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

    • CNW Group

      Reitmans (Canada) Limited Obtains Court Order under the Companies' Creditors Arrangement Act

      MONTREAL , May 19, 2020 /CNW Telbec/ - Reitmans ( Canada ) Limited ("Reitmans" or the "Company") announces today that, further to its news release issued this morning and the completion of proceedings before the Québec Superior Court, the Company has obtained an Initial Order (the "Order") pursuant to the Companies' Creditors Arrangement Act (the "CCAA"). Under the terms of the Order, Ernst & Young Inc. has been appointed as Monitor under the CCAA process and will assist Reitmans in formulating its restructuring plan.

    • Reuters

      Canada's Reitmans seeks bankruptcy protection as COVID-19 shuts stores

      Reitmans, which was founded in 1926 and retails fashion apparel through 576 stores across Canada and online, said it obtained the order from a Quebec court, leading to an operational, commercial and financial restructuring. "Filing for protection under the CCAA is truly the hardest decision we have had to make as an organization in our almost one hundred years of history, but this pandemic has left us no choice," Chief Executive Officer Stephen Reitman said in a statement. Under the terms of the order, Ernst & Young Inc has been appointed to assist Reitmans in formulating its restructuring plan, the company said.

    • Reuters

      Canada's Reitmans to seek bankruptcy protection as COVID-19 shuts stores

      Reitmans Canada Ltd will seek bankruptcy protection in a Québec court on Tuesday, becoming the latest retailer to face the brunt of the COVID-19 pandemic, which has led to prolonged store closures. Reitmans, which was founded in 1926 and retails fashion apparel through 576 stores across Canada and online, said it would seek protection under the Companies' Creditors Arrangement Act, leading to an operational, commercial and financial restructuring. "Filing for protection under the CCAA is truly the hardest decision we have had to make as an organization in our almost one hundred years of history, but this pandemic has left us no choice," Chief Executive Officer Stephen Reitman said in a statement.

    • CNW Group

      Reitmans (Canada) Limited Announces its Intention to Restructure its Operations under the Companies' Creditors Arrangement Act

      MONTREAL , May 19, 2020 /CNW Telbec/ - Reitmans ( Canada ) Limited ("Reitmans" or the "Company") announces today that it is seeking protection under the Companies' Creditors Arrangement Act (the "CCAA") in order to facilitate its operational, commercial and financial restructuring. Application under the CCAA will be heard by the Québec Superior Court today.

    • CNW Group

      Reitmans (Canada) Limited announces its results for the 13 and 52 weeks ended February 1, 2020

      Reitmans (Canada) Limited announces its results for the 13 and 52 weeks ended February 1, 2020

    • CNW Group

      Reitmans (Canada) Limited Announces Important Measures Affecting its Employees Amid COVID-19 Crisis

      MONTREAL , March 26, 2020 /CNW Telbec/ - Last week, on March 17 th, Reitmans ( Canada ) Limited (the "Company") voluntarily closed on a temporary basis all of its 587 stores to customers in support of collective efforts to help limit the spread of the virus, and to protect the health and well-being of its employees and customers. Given the rapidly evolving COVID-19 crisis, the Company confirms that it will keep all stores closed to customers until further notice. Furthermore, Reitmans ( Canada ) Limited has made the necessary decision to temporarily lay off 90% of its Canadian retail store employees, across all five of its brands: Reitmans, Penningtons, Addition Elle, RW&CO. and Thyme Maternity, effective March 29 th. This decision also affects approximately 30% of the Company's Montreal Head Office employees, effective March 30 th.  In addition, all remaining employees are being asked to collectively contribute to on-going cost-saving initiatives.

    • CNW Group

      Reitmans (Canada) Limited Announces the Appointment of Stephen F. Reitman as Chief Executive Officer and Daniel Rabinowicz as Chairman of the Board of Directors

      Reitmans (Canada) Limited Announces the Appointment of Stephen F. Reitman as Chief Executive Officer and Daniel Rabinowicz as Chairman of the Board of Directors

    • CNW Group

      Reitmans (Canada) Limited Reports December Sales

      In the fourth quarter to date, the Company closed 1 store. All of the statements contained herein, other than statements of fact that are independently verifiable at the date hereof, are forward-looking statements. Such statements, based as they are on the current expectations of management, inherently involve numerous risks and uncertainties, known and unknown, many of which are beyond the Company's control.

    • CNW Group

      Reitmans Announces the Passing of Jeremy H. Reitman

      Reitmans Announces the Passing of Jeremy H. Reitman

    • CNW Group

      Reitmans (Canada) Limited announces its results for the 13 and 39 weeks ended November 2, 2019

      Reitmans (Canada) Limited announces its results for the 13 and 39 weeks ended November 2, 2019

    • CNW Group

      Reitmans (Canada) Limited is pleased to announce the appointment of Gale Blank to the position of Chief Information Officer

      Reitmans (Canada) Limited is pleased to announce the appointment of Gale Blank to the position of Chief Information Officer

    • It Might Not Be A Great Idea To Buy Reitmans (Canada) Limited (TSE:RET.A) For Its Next Dividend
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      It Might Not Be A Great Idea To Buy Reitmans (Canada) Limited (TSE:RET.A) For Its Next Dividend

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    • CNW Group

      Reitmans (Canada) Limited Announces Leadership Changes

      Reitmans (Canada) Limited Announces Leadership Changes

    • Is Reitmans (Canada) Limited (TSE:RET.A) A Risky Dividend Stock?
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      Is Reitmans (Canada) Limited (TSE:RET.A) A Risky Dividend Stock?

      Today we'll take a closer look at Reitmans (Canada) Limited (TSE:RET.A) from a dividend investor's perspective. Owning...

    • CNW Group

      Reitmans (Canada) Limited announces its results for the 13 and 26 weeks ended August 3, 2019

      Reitmans (Canada) Limited announces its results for the 13 and 26 weeks ended August 3, 2019

    • CNW Group

      Reitmans (Canada) Limited Announces the Departure of Jonathon Fitzgerald, Group President - Addition Elle and Penningtons

      Reitmans (Canada) Limited Announces the Departure of Jonathon Fitzgerald, Group President - Addition Elle and Penningtons

    • CNW Group

      Reitmans (Canada) Limited Announces the Appointment of Terry Yanofsky to its Board of Directors

      MONTREAL , Aug. 8, 2019 /CNW Telbec/ - Reitmans (Canada) Limited (RET.TO) (RET-A.TO) ("Reitmans" or the "Company") announced today that Ms. Terry Yanofsky has been appointed to the Board of Directors of the Company. Ms. Yanofsky has held a number of senior executive positions in marketing, merchandising, sales and operations with some of the most respected Canadian retailers including IKEA Canada, Intrawest Corporation, Victoria's Secret and La Senza. A creative thinker and dynamic leader, Ms. Yanofsky has perfected a strong omni-channel skill set in both entrepreneurial and corporate environments, bringing a well-balanced and disciplined approach to driving revenue, margin and bottom line.

    • CNW Group

      Reitmans (Canada) Limited Announces Preliminary Results Of Substantial Issuer Bid

      MONTRÉAL, July 29, 2019 /CNW Telbec/ - Reitmans ( Canada ) Limited (RET.TO) (RET-A.TO) ("Reitmans" or the "Company") announced today the preliminary results of its substantial issuer bid (the "Offer") to purchase up to 15 million of its outstanding Class A non-voting shares (the "Shares") at a purchase price of $3.00 per Share (the "Purchase Price") from holders of such Shares ("Shareholders") in Canada . In accordance with the terms and conditions of the Offer and based on a preliminary count by Computershare Trust Company of Canada (the "Depositary"), the Company expects to take up and pay for 14,462,944 Shares at the Purchase Price, for aggregate consideration of $43,388,832 . After giving effect to the purchase of Shares pursuant to the Offer, the Company expects that 35,427,322 Shares will be issued and outstanding.

    • How Should Investors React To Reitmans (Canada) Limited's (TSE:RET.A) CEO Pay?
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      How Should Investors React To Reitmans (Canada) Limited's (TSE:RET.A) CEO Pay?

      Jeremy Reitman is the CEO of Reitmans (Canada) Limited (TSE:RET.A). This analysis aims first to contrast CEO...

    • CNW Group

      Reitmans (Canada) Limited announces the repurchase of up to 15 million Class A non-voting shares at a purchase price of $3.00 per Class A non-voting share pursuant to a substantial issuer bid

      MONTRÉAL, June 17, 2019 /CNW Telbec/ - Reitmans ( Canada ) Limited (RET.TO) (RET-A.TO) ("Reitmans" or the "Company") announced today that it intends to make a substantial issuer bid (the "Offer") pursuant to which the Company will offer to repurchase for cancellation up to 15 million of its outstanding Class A non-voting shares (the "Shares") at a purchase price of $3.00 per Share (the "Purchase Price") from holders of such Shares ("Shareholders") in Canada . The Company will fund any purchases of Shares pursuant to the Offer from available cash on hand and funds to be derived from the sale of marketable securities in its investment portfolio. If more than 15 million Shares are validly deposited pursuant to the Offer, the Corporation will pro-rate the number of Shares purchased from each Shareholder.

    • How Financially Strong Is Reitmans (Canada) Limited (TSE:RET.A)?
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    • CNW Group

      Reitmans (Canada) Limited announces election of directors

      Reitmans (Canada) Limited announces election of directors

    • CNW Group

      Reitmans (Canada) Limited announces its results for the 13 weeks ended May 4, 2019

      Reitmans (Canada) Limited announces its results for the 13 weeks ended May 4, 2019