Reitmans to close over 100 Smart Set branded stores

Tue Nov 25, 2014 9:46am EST
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

TORONTO Nov 25 (Reuters) - Reitmans Canada Ltd said on Tuesday it is shutting 107 stores that operate under its Smart Set banner over the next 12 to 18 months, in an effort to boost profitability.

Reitmans, which runs close to 800 stores under its banners such as RW & CO. Penningtons, Addition Elle, Thyme Maternity and its own namesake banner, said it is refocusing its sales efforts by converting some 76 Smart Set stores to other company banners, while permanently closing some 31 Smart Set locations. (Reporting by Euan Rocha Editing by W Simon)