Reitmans (Canada) Limited announces temporary systems problems at its distribution centre

MONTREAL, Aug. 15, 2012 /CNW Telbec/ - Reitmans (Canada) Limited announced today that it encountered problems with its newly-installed warehouse management systems at its distribution centre, which caused temporary disruptions in the receiving and shipping of merchandise to stores.  These issues have adversely impacted sales in August and will have an adverse impact on sales and margins for the third quarter.  The amount of such impact is not known at this time and is difficult to quantify as sales are affected by a number of factors. Reitmans believes that the situation has now been resolved and the distribution centre is operating properly at this time.

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. Consequently, actual future results may differ materially from the anticipated results expressed in forward-looking statements. The reader should not place undue reliance on the 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