The turnaround begins It is worth noting that for the first time since fiscal 2010, Reitman's store count did not decrease. For the first time in 13 years, they've managed to pivot in the other direction by adding 2 additional net locations. This is an early indication that a turnaround story is well underway and a return to profitable growth lies ahead.
Reitmans operating income for fiscal 2023 is $48.24m and on a per share basis is ~ $0.98 which is the highest since fiscal 2011.
We are in the early innings of the turnaround play.