Reitmans: Beyond looks
April 16, 2022
Reitmans Ltd. is a Canadian retail chain specializing in women’s clothing. There are 237 Reitmans stores across Canada.
In 1926, Herman and Sarah Reitman, who had immigrated to Canada from Eastern Europe, opened a dry goods store on St. Laurent Boulevard in Montreal, Quebec. Their store was a huge success and they quickly opened a second store that focussed solely on women’s fashions.
As their business became more and more successful, they opened five more stores, one for each of their four sons and one for their daughter, Dora. The four boys, Louis, Sam, John and Jack, grew the business by adding more stores every year. Jack became president of the company in 1970 and, together with the executive team, continued to expand the chain.
Herman and Sarah’s grandsons (Jack’s sons), Jeremy and Stephen, later took over the company with Jeremy serving as chairman of the board and chief executive officer, and Stephen serving as president and chief operating officer. Sadly, Jeremy died in 2019.
In 2022, Reitmans celebrates its 96th birthday!
For the fiscal year of 2015, Reitmans net earnings were $13,415,000 on sales of $939,376,000.
The Covid-19 Pandemic
The pandemic has been playing havoc with everyone’s life, and with retail stores in particular. When the pandemic began in March 2020, Reitmans had to temporarily close all 575 of its retail stores and depend solely on its online sales. As a result, Reitmans restructured the company and closed Thyme Maternity and Addition Elle. As the
Penningtons and RW&CO., are staying strong.
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