Reitmans

From Wikipedia, the free encyclopedia
This article is about the company. For other people with the same name, see Reitman.
Reitmans Ltd.
TypePublic
TSX-V: RET
IndustryClothing Stores
FoundedMontreal, Quebec, Canada (1926)
FoundersHerman Reitman
Sarah Reitman
FateOperating, but in bankruptcy protection
Headquarters
Montreal, Quebec
,
Canada
Key people
Jeremy H. Reitman, Stephen F. Reitman
Number of employees
10,000 (2010)[1]
Divisions
  • Reitmans
  • RW&CO
  • Penningtons
  • Thyme Maternity (Closing)
  • Addition Elle (Closing)
Websitewww.reitmanscanadalimited.com

Reitmans Ltd. is a Canadian retailing company, specializing in women's clothing. The company operated several store brands, including Reitmans, R.W. & Company, Penningtons, Addition-Elle, Thyme Maternity, Cassis, Smart Set and Hyba.

It was founded in 1926 by Herman and Sarah Reitman, in Montreal, Quebec, Canada. The immediate success of the first store on Saint Laurent Boulevard prompted the Reitmans to open a second store which sold exclusively women's clothing. The founders grandsons Jeremy Reitman (who died in 2019) would later serve as chairman of the board and chief executive officer, with his brother Stephen Reitman as president and chief operating officer. By 2016, the company was active in 685 locations with stores in every province and two of three territories in Canada. For the fiscal year of 2015, net earnings were $13,415,000 on sales of $939,376,000.[2] However, Reitmans filed for bankruptcy protection in May 2020[3] and subsequently closed its Thyme Maternity (54 locations) and Addition Elle (77 locations) stores over the summer of 2020. The company's stock was moved from the Toronto Stock Exchange to the TSX Venture Exchange.[4]

Reitmans' used the motto "Fits your beautiful", changed from Designed for real life. In fall 2004, Reitmans used this slogan to advertise, saying: "Life is a catwalk. Have fun with it!".[5]

Reitmans Divisions[]

Reitmans stores organized into operating chains aimed at different market segments.[6]

Reitmans in Markville Shopping Centre in Markham, Ontario.

Current divisions[]

  • Reitmans is Canada's largest women's clothing specialty chain. There are 270 Reitmans stores, with stores in all ten provinces and two of Canada's three territories.
  • RW&CO. caters to men and women aged 25 to 40. It is the only chain in the Reitmans group that caters to both women and men. There are 89 RW & Co stores, with stores located in every province except Prince Edward Island.
  • Penningtons caters to plus sized women. The chain offers career, casual clothing, underwear and accessories. There are 122 Penningtons stores, with stores located in all ten provinces.

Closed divisions[]

  • Hyba, re-branded from Smart Set, was a women's activewear store closures were announced by Reitmans in March 2019; however, the Hyba clothing line continued to be carried at Reitmans stores thereafter
  • Thyme Maternity caters to pregnant women. There were 63 Thyme Maternity stores, with stores in every province except Newfoundland and Prince Edward Island.
  • Addition Elle focused on plus sized women. There were 90 Addition Elle stores.
  • Cassis focused on women aged 40 to 60 but closed in 2011.[7]

References[]

  1. ^ "Company Profile for Reitmans Canada Limited (CA;RET.A)". Retrieved 2008-10-09.
  2. ^ Reitmans 2015 Annual Report (See Annual Report and filings on the TSX)
  3. ^ https://nationalpost.com/news/canada/canadas-reitmans-seeks-bankruptcy-protection-as-covid-19-shuts-stores[bare URL]
  4. ^ "Reitmans (Canada) Limited Announces Listing on the TSX Venture Exchange" (Press release). Cision. September 1, 2020.
  5. ^ http://www.reitmans.com-pdf-Flyer_E.PDF[permanent dead link]
  6. ^ Numbers of stores in and locations for stores in each chain taken from the Reitmans 2011 Annual Report and are current to January 29, 2011.
  7. ^ "Reitmans to close Cassis chain". National Post. October 19, 2011.

External links[]

Retrieved from ""