Reitmans Ord Shs V.RET

News Out

[savyinvestor333]

Reitmans (Canada) Limited announces Leadership Changes Jackie Tardif appointed to Chief Operating Officer MONTREAL, Feb. 5, 2024 /CNW/ - Reitmans (Canada) Limited "RCL" announced today that Jackie Tardif has been appointed to Chief Operating Officer "COO" reporting to RCL President and Chief Executive Officer, Andrea Limbardi. Michael Strachan, President RW&CO. and PENN., will leave the organization on February 17, 2024. Ms. Tardif, previously President of the Reitmans Division and a 29-year veteran of RCL, will oversee the merchandising, marketing, planning & allocation, and store & e-commerce operations of the Reitmans, RW&CO., and PENN. brands. Ms. Limbardi said, "I am thrilled to have Jackie as COO and as a partner to drive RCL's future success together. Her strong merchant background, customer-centric focus, and deep commitment to RCL's growth are qualities that impressed me since I started at RCL." Ms. Limbardi continued, "I also want to thank Michael for his exceptional leadership and his spearheading of many key projects during his 8-year tenure at RCL." Ms. Tardif added, "I am excited to be leading the RCL brands into the future. I want to thank Andrea for her trust as we partner to advance the company's growth. I am honoured to guide our dedicated teams to continue to elevate our customers' experience and to provide them with the style and quality they have always counted on."

[filoux004]

Hey Savy what yr read on these mgmt changes??? Starting to wonder if a low ball mgmt takeout is in the cards??? Ie Indigo works

[savyinvestor333]

Not sure maybe changing of the gaurd? maybe disagreement in direction? Either way both of them have been sellers of there shares. Both of them have less than 25,000

[TheCount11]

From a strategic perspective what does it mean to have a new CEO who doesn't make any executive changes?  So many times I hear CEOs talking "strategy".  I am happy to see a new CEO make changes.  This could be a great second chapter for Reitmans.    

[Lllennn]

Looks to me like they trying to take company private without paying what it’s really worth, they are not doing anything they use to do. They have hundred million and they allow this type of volume?

[Torontojay]

Not a bad strategy for the owners. Let the share price tank then take the company private by giving shareholders a premium to todays prices but not to last years prices.  I see this all the time. Shareholders get frustrated and just accept whatever offer given to them. They aren't creating shareholder value which is sometimes done intentionally for this purpose. 

[savyinvestor333]

So all the reason to buy now. Once the news release comes out it's game over. You miss out on the total premium.

[Torontojay]

Yes, but what if they plan on taking the company private in 2025 or 2026? The share price can struggle for a long time so they can give a lowball offer in the future and then ignore the past. They get all the benefit not you.  All they have to do is announce a dividend or do something with that cash position and the share price goes much higher. It's not rocket science. You have to ask

[nedstar71]

There was a word.  The CEO said in that article just the other day "Several stores also need to be renovated. Investment is needed in the distribution center and in the digital side, which means that shareholders wanting share buybacks and a dividend policy may have to wait a while longer." Sounds like year minimum, not anytime soon.  The lack of uplisting is what's mind

[savyinvestor333]

Funny being on the Venture doesn't really bother me. Look at LMN.V it has a 2.4 billion dollar valuation and is fine on the venture. Their are many companies with bigger market caps than us here. Ignoring shareholders bothers me more.

[Lllennn]

Can they get on main index with this kind of volume?  I don't think so. $3 is where FFF bailed and it's seems suspicious it's in the $3 range now. It might be that they went thru proceedings and the only place they can go is private (excuse) and it seems the people they putting in place is going that way, the main guy has stepped away and paid acters in place. Indigo has gone that

[Lllennn]

Anyway legally to get the boards members on lie detector questioning?

[filoux004]

Quite frankly never understood why management buyouts are allowed...makes no sense, if you have a game plan to create shareholder value that should be your sole fiduciary duty. 

[Torontojay]

Exactly! These guys are truly clueless on how to create shareholder value. They can't be that stupid, or are they?  Imagine they would reinstate a nickel/quarter dividend as they once had before the pandemic.  just a simple announcement and the stock price would go flying. 

[savyinvestor333]

Would be great for those Invested PRIOR to the announcement. Not  so much for those who buy after the good news is out. A sure way to have outsized gains is to anticipate future probabilities.