Reitmans Ord Shs V.RET.A

Cash, Working Capital

[Kiln]

Current Assets      $266,715K
Current Liabilities    106,673K
Working Capital     $160,042K

Cash                        $96,681K

Given the Canadian real estate market, it would be reasonable to assume their tangible real estate is worth more than it is carried for on the books.  With 50 million shares outstanding, real estate and WC are worth more than the market cap.  

However, the market will probably want to see some earnings growth and a pattern of earning predictability, to pay full value for the shares.  If the new CEO can deliver of growth and predictability, we have a winner.

[Torontojay]

It's definitely a long term play. I believe the market cap on the "a" shares is less than working capital plus you have all that real estate that has appreciated substantially above book values. Real estate is always recorded at historical costs and it also gets depreciated on the books. In reality, the tangible value of the real estate is above the historical costs plus the