Reitmans (Canada) Limited Announces the Appointment of Terry Yanofsky to its Board of Directors

MONTREAL, Aug. 8, 2019 /CNW Telbec/ - Reitmans (Canada) Limited (TSX: RET) (TSX: RET-A) ("Reitmans" or the "Company") announced today that Ms. Terry Yanofsky has been appointed to the Board of Directors of the Company.

Ms. Yanofsky has held a number of senior executive positions in marketing, merchandising, sales and operations with some of the most respected Canadian retailers including IKEA Canada, Intrawest Corporation, Victoria's Secret and La Senza. She is currently Senior Vice-President and General Manager of Sephora Canada where she is responsible for leading the strategic direction of the company. A creative thinker and dynamic leader, Ms. Yanofsky has perfected a strong omni-channel skill set in both entrepreneurial and corporate environments, bringing a well-balanced and disciplined approach to driving revenue, margin and bottom line.

"We are privileged to have Terry Yanofsky join the Reitmans' Board. She brings a great deal of experience and an impressive skillset in all facets of retail operations. We are confident that she will be of invaluable help to Reitmans in helping it to meet its strategic and operational goals. We are looking forward to working with her", said Stephen F. Reitman, President and Chief Operating Officer of Reitmans.

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 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, planned capital expenditures, amount of pension plan contributions, status and impact of systems implementation, the ability of the Company to successfully implement its strategic initiatives and cost reduction and productivity improvement 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.

Corporate Website: www.reitmanscanadalimited.com

SOURCE Reitmans (Canada) Limited