RE:Thoughts on Q4 Too much ink is spilled on everything but the business... retail tourists, stop crying and reread this (from yesterday) again for your own benefit.
As I have been saying the fourth quarter is different from other quarters. That holiday dress is for the holidays. The spring or summer dress doesn't have a hard cut off date. Selling fashion isn't like selling Coke.
Before e-commerce grew (with a generous return policy) the 4th quarter was profitable for Reitmans. Look at 2004 to 2012.
Once Reitmans management reviews their return policy to favor in store returns Q4 will likely on average be positive.
You have to look past the next quarter and not be short sighted to realize that an inverted yield curve with a recession is great for a company with a lot of cash and no debt vs companies with debt and no cash.