Reitmans (Canada) Limited posts slight revenue increase in Q2

Reitmans (Canada) Limited (RCL), a leading specialty apparel retailer, has reported its financial results for the second quarter of fiscal 2026 with net revenues were 215.9 million Canadian dollars, a slight increase over last year, despite operating three fewer stores. However, comparable sales decreased by 1.3 percent, and the gross profit margin dropped by 220 basis points to 56.9 percent.

According to Andrea Limbardi, president and CEO of RCL, the company was "especially pleased with Reitmans' performance and the customer response to our Summer collection". She noted that customers remained price-conscious, leading to increased promotions to move inventory, which in turn impacted gross profit. Adjusted EBITDA was 21.4 million Canadian dollars, a decrease of 2 million Canadian dollars from the previous year.

Looking ahead, RCL is moving forward with its five-year strategic plan, which includes targeted investments in its retail footprint. In the second quarter, renovated stores outperformed the rest of the fleet. The company's RW&CO. brand is set to open an 8,000 sq. ft. flagship store in Saint-Bruno, Québec, in October, featuring a new experience that reflects the brand's evolving identity. RCL operates 386 stores across Canada under three banners: Reitmans, PENN., and RW&CO.