Reitmans Canada LtdTSX/Alpha:RET.Aview on OTC Pink - Current Information »

Sales for the first quarter ended May 4, 2013 were $216,861,000 as compared with $217,094,000 for the first quarter ended April 28, 2012, a decrease of 0.1%. Same store sales(1) decreased 3.5%, compared to the comparable 13 weeks ended May 5, 2012, impacted by our customers' preference to focus their expenditures on non-discretionary purchases, as well as unseasonable weather conditions that were prevalent during the period. Sales through the various banners' e-commerce channels showed significant gains, with a 96% increase in sales for the first quarter ended May 4, 2013 as compared to the first quarter ended April 28, 2012. The Company's gross margin remained unchanged at 64.6% for the first quarter ended May 4, 2013 as compared to the first quarter ended April 28, 2012. The Company recorded a net loss of $2,586,000 ($0.04 diluted loss per share) for the first quarter ended May 4, 2013 as compared with a net loss of $119,000 ($0.00 diluted loss per share) for the first quarter ended April 28, 2012. In the first quarter ended May 4, 2013, adjusted EBITDA(1) was $10,683,000 as compared with $12,451,000 for the first quarter ended April 28, 2012, a decrease of 14.2%.