Women's clothier Reitmans (Canada) Ltd. says its profit was 56.9 per cent higher in the fourth quarter compared with the year earlier, when its results were partly weighed down by a tax-related item.
The Montreal-based company said Monday that its profit was $14.1-million, or 21 cents per share, in the period ended Jan. 30. That's an increase from $9-million, or 13 cents per share, in the comparable period ended Jan. 31, 2009.
Sales grew 2.4 per cent to $268.1-million from $261.8-million, as same-store sales increased 1.5 per cent.
In the quarter, Reitmans booked $503,000 in future tax losses, lower than the $2.8-million in the same period last year.
Reitmans' quarterly dividend was left unchanged at 18 cents per share.
For the year, profit slipped to $67.2-million, or 98 cents per share, from $85.8-million or $1.21 cents per share in 2008.
At the end of the period, Reitmans had 977 stores operating, compared with 973 at the same time a year earlier.
Shares of Reitmans were up 10 cents to $14.85 on the Toronto Stock Exchange.
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