Reitmans (Canada) Limited announces the appointment of Richard Wait as Vice-President, Finance and Chief Financial Officer and the retirement of Eric Williams

MONTREAL, April 30, 2018 /CNW Telbec/ - Reitmans (Canada) Limited (the "Company") announces today the appointment of Richard Wait, CPA, CGA Vice-President Comptroller of the Company, as Vice-President, Finance and Chief Financial Officer of the Company, effective on August 17, 2018, and the retirement of Eric Williams, CPA, CA effective on the same date.

Mr. Wait will transition into his new role over the summer of 2018 with the support of Mr. Williams until his retirement.

"On behalf of the Board of Directors of the Company and the executive team, I would like to express our sincerest thanks to Eric for the key role he played ensuring that the Company maintained a strong financial position and remained a leader in the apparel industry", said Jeremy Reitman, Chairman and Chief Executive Officer of the Company.

About Reitmans (Canada) Limited

Reitmans (Canada) Limited is a leading specialty fashion retailer, with over 8000 employees and operating 637 stores across Canada through its banners, Reitmans, Addition Elle, Penningtons, RW&CO., Thyme Maternity and Hyba.  Reitmans (Canada) Limited is a publicly traded company listed on the Toronto Stock Exchange (TSX: RET, RET-A).  For more information, visit www.reitmanscanadalimited.com.

All of the statements contained herein, other than statements of fact that are independently verifiable at the date hereof, are forward-looking statements. Such statements, based as they are on the current expectations of management, inherently involve numerous risks and uncertainties, known and unknown, many of which are beyond the Company's control. Such risks include but are not limited to: the impact of general economic conditions, general conditions in the retail industry, seasonality, weather and other risks included in public filings of the Company, including those described in the Operating Risk Management and Financial Risk Management sections of the Company's Annual Management Discussion and Analysis.  Consequently, actual future results may differ materially from the anticipated results expressed in forward-looking statements, which reflect the Company's expectations only as of the date of this press announcement.  Forward-looking statements are based upon the Company's current estimates, beliefs and assumptions, which are based on management's perception of historical trends, current conditions and currently expected future developments, as well as other factors it believes are appropriate in the circumstances.  Specific forward-looking statements in this press announcement include, but are not limited to, statements with respect to the Company's anticipated future results and events, future liquidity and the ability of the Company to successfully implement its strategic initiatives, as well as the impact of such initiatives.  The reader should not place undue reliance on any forward-looking statements included herein. These statements speak only as of the date made and the Company is under no obligation and disavows any intention to update or revise such statements as a result of any event, circumstances or otherwise, except to the extent required under applicable securities law.

SOURCE Reitmans (Canada) Limited