Reitmans (Canada) Limited announces its results for the 13 weeks ended May 2, 2020
(WorldNews Health)

MONTREAL, July 30, 2020/CNW Telbec/ - Sales for the 13 weeks ended May 2, 2020(`first quarter of 2021`) were $104.7 million, as compared with $185.2 millionfor the 13 weeks ended May 4, 2019(`first quarter of 2020`). The decrease of $ 80.5 millionis primarily due to the impact from temporary store closures due to COVID-19, as described below under `Current Developments and Subsequent Events`, for more than six out of the 13 weeks in the first quarter of 2021, partially offset by an increase of e-commerce sales in response to consumers` needs during the prolonged stay-at-home period. Gross profit for the first quarter of 2021 decreased $70.8 millionor 69.5%, to $31.0 millionas compared with...