Reitmans lays off nearly 9% of head office employees

Reitmans has made layoffs as the Montreal-based company attempts to improve its profitability.

The retailer laid off 65 employees at its Montreal headquarters, representing nearly 9 per cent of the workforce there, confirmed Alexandra Cohen, vice president of communications.

At its Montreal distribution centre, 10 people also lost their jobs, representing 5 per cent of the facility’s employees. The announcement was communicated to employees in mid-January.

The owner of the Reitmans, Penningtons, and RW & Co brands unveiled a plan last spring to increase sales and restore profitability by the end of fiscal 2030.

The company aims to achieve annual sales of $1 billion and adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of $70 million.

In fiscal 2025, which ended Feb. 1, 2025, the company generated revenues of $773.8 million and adjusted EBITDA of $25.4 million.

The “difficult but necessary decision” was made as part of this strategy, Cohen said.

“Reitmans remains a financially strong organization with an excellent balance sheet and the capital necessary to support and grow its future business,” she said in a statement.

Reitmans’ stock was stable Monday at $2.22 on the TSX Venture Exchange.

- Stéphane Rolland

- This report by The Canadian Press was first published in French on Feb. 2, 2026.