Latest news with #Reitmans
National Post
21-05-2025
- Lifestyle
- National Post
5 versatile beach bags to tote around this summer
Article content Reviews and recommendations are unbiased and products are independently selected. Postmedia may earn an affiliate commission from purchases made through links on this page. Article content For the last few seasons, designer wicker totes and raffia beach bags have given new meaning to the term 'beach to boardwalk'. Indeed, styles that move effortlessly from sand to city are key to ensuring your summer includes as many beach visits as possible, without sacrificing any of the essentials: SPF, a good read, a snack or two and the all-important sunnies. Rebecca Tay presents five beach bags that prove that practicality and polish can go hand in hand. Article content Article content Toronto-based stylist, influencer and on-air fashion expert Toni Fifi — @tonififi — has created a limited-edition collection with Canadian brand Reitmans, and we're loving the printed, bold pieces, as well as this straw tote. Not too big, not too small, the all-black, adjustable straps and hardware give it a streamlined, sleek look that's perfect for days out and dinner alike. Article content We've all seen a striped summer tote before, but this one feels slightly different as it merges a market bag and a beach bag to feel suitable for, well, both. With a large compartment that will fit everything from your fresh produce to magazines and a sarong, it's a chic, Hamptons-inspired take on a style that will definitely see you through the season — and beyond. Article content True to its B.C. roots, Herschel knows that a Canadian summer is just as likely to include trips to the cabin, complete with a ferry ride and pebble beach walk, as it is days on the sand. Enter this All Season Gear Tote, which comes in two sizes: 63L and 33L. Part of the brand's Outdoor Equipment performance line, it's made from custom All Season fabric, has a double-layer base and nylon handles for sturdiness and durability, and a roomy main compartment for wine, extra clothing, swimming flippers, a portable speaker and more — basically everything you need for a great summer's day out. Article content Article content Article content Is there anything more iconic than a printed canvas tote? Sure, we'd all love to find a good vintage one at a charity shop, but barring that, there's this SENN House Beach Club version by Oak and Fort. Laid-back and cool, it has double shoulder straps for comfort and strength and a structured base for extra stability, meaning you can stuff it to overflowing and it won't — or at least it shouldn't — tip over. Article content Founded 25 years ago in Madagascar by three sisters, Sans-Arcidet Paris is a relatively under-the-radar brand known for its elegance and craftsmanship. Case in point: this oversized, braided raffia bag, which features drawstring cords that knot at the bottoms and tie-dyed fastenings for a sense of modernity. Wear with cropped trousers for weekend errands, with a bikini at the beach, and with a black dress for an evening out. Article content Article content
Vancouver Sun
21-05-2025
- Entertainment
- Vancouver Sun
5 versatile beach bags to tote around this summer
Reviews and recommendations are unbiased and products are independently selected. Postmedia may earn an affiliate commission from purchases made through links on this page. For the last few seasons, designer wicker totes and raffia beach bags have given new meaning to the term 'beach to boardwalk'. Indeed, styles that move effortlessly from sand to city are key to ensuring your summer includes as many beach visits as possible, without sacrificing any of the essentials: SPF, a good read, a snack or two and the all-important sunnies. Rebecca Tay presents five beach bags that prove that practicality and polish can go hand in hand. TONI FIFI X REITMANS STRAW BAG Discover the best of B.C.'s recipes, restaurants and wine. By signing up you consent to receive the above newsletter from Postmedia Network Inc. A welcome email is on its way. If you don't see it, please check your junk folder. The next issue of West Coast Table will soon be in your inbox. Please try again Interested in more newsletters? Browse here. Toronto-based stylist, influencer and on-air fashion expert Toni Fifi — @tonififi — has created a limited-edition collection with Canadian brand Reitmans, and we're loving the printed, bold pieces, as well as this straw tote. Not too big, not too small, the all-black, adjustable straps and hardware give it a streamlined, sleek look that's perfect for days out and dinner alike. Reitmans, | $59.90 STRIPED TOTE WITH LEATHERETTE TOP HANDLES We've all seen a striped summer tote before, but this one feels slightly different as it merges a market bag and a beach bag to feel suitable for, well, both. With a large compartment that will fit everything from your fresh produce to magazines and a sarong, it's a chic, Hamptons-inspired take on a style that will definitely see you through the season — and beyond. Joe Fresh, | $29 ALL SEASON GEAR TOTE True to its B.C. roots, Herschel knows that a Canadian summer is just as likely to include trips to the cabin, complete with a ferry ride and pebble beach walk, as it is days on the sand. Enter this All Season Gear Tote, which comes in two sizes: 63L and 33L. Part of the brand's Outdoor Equipment performance line, it's made from custom All Season fabric, has a double-layer base and nylon handles for sturdiness and durability, and a roomy main compartment for wine, extra clothing, swimming flippers, a portable speaker and more — basically everything you need for a great summer's day out. Herschel, | $95 (small) and $125 (large) BEACH CLUB CANVAS TOTE Is there anything more iconic than a printed canvas tote? Sure, we'd all love to find a good vintage one at a charity shop, but barring that, there's this SENN House Beach Club version by Oak and Fort. Laid-back and cool, it has double shoulder straps for comfort and strength and a structured base for extra stability, meaning you can stuff it to overflowing and it won't — or at least it shouldn't — tip over. Oak and Fort, | $48 SANS-ARCIDET PARIS OVERSIZED BRAIDED RAFFIA TOTE Founded 25 years ago in Madagascar by three sisters, Sans-Arcidet Paris is a relatively under-the-radar brand known for its elegance and craftsmanship. Case in point: this oversized, braided raffia bag, which features drawstring cords that knot at the bottoms and tie-dyed fastenings for a sense of modernity. Wear with cropped trousers for weekend errands, with a bikini at the beach, and with a black dress for an evening out. Simons, | $275
Cision Canada
13-05-2025
- Business
- Cision Canada
Open Letter to Fellow Shareholders of Reitmans (Canada): Board Refresh, Proper Governance and Exchange Listing Graduation
TORONTO, May 13, 2025 /CNW/ - Concerned shareholders (the "Concerned Shareholders") of Reitmans (Canada) Limited ("Reitmans" or the "Company") are calling for immediate action at Reitmans to halt and reverse the ongoing governance concerns and stagnation of shareholder value To our Fellow Shareholders We believe that the Board of Directors (the "Board") of Reitmans must take the following significant and immediate steps to address critical issues; In light of the consistently poor decision making at Board level, the Company must adopt and ensure an appropriate governance framework is in place to address the current dominance of the Executive Chairman, Stephen Reitman The removal (and replacement) of non-executive Directors, Bruce Guerriero and Daniel Rabinowicz due to independence issues and a clear misalignment with the interests of all shareholders The collapsing of the dual class share structure and graduating from the TSX Venture Exchange to the Toronto Stock Exchange We, as concerned shareholders of the Company hereby demand the Board take steps to address the chronically low valuation of the Company's shares. We believe that the number of shareholders who share our concerns already constitute a very large portion of the total shareholder base and continues to grow. Yet, our numerous requests to engage in dialogue with the Board as a means to unlocking value for all of the Company's shareholders have been consistently ignored as a result of the Executive Chairman, Stephen Reitman's complete dominance over Board members. We will no longer accept the poor decisions being taken at the Board level that have resulted in the persistent undervaluation of our investment. We are united in our commitment to ensuring swift and concise steps are taken by the Board that result in the market awarding the Company with an appropriate valuation and we wish to assure investors that we are committed to doing so without any interference in the Company's operations and without influencing the majority voting interests of the founding family. Below we outline what we believe is a reasonable and effective proposal to unlock value for all shareholders of the Company, including the founding family, assuming that the founding family's interests are aligned with those of minority shareholders, and that they too wish to ensure the market recognises the true valuation of the Company and do not focus instead on receiving a premium for their shares over the non-voting equivalents in the event of a takeover. Background Reitmans, a well-established Canadian retailer, is currently listed on the TSX Venture Exchange ("TSXV"), a junior market typically suited for emerging companies. Despite its strong brand, operational history, and balance sheet strength, the Company's enterprise value is negative, meaning its market capitalization is less than its net cash position. Such a valuation is generally reserved for companies who generate negative free cash flow. As of 12 May 2025 Reitmans' market capitalization is C$105 million while its net cash stands at C$158 million. It is also worth noting that its net book value is approximately C$280 million. This extraordinary situation has arisen from continuous poor decision making at Board level and we, as minority shareholders, cannot allow this to continue Ongoing Issues The persistent undervaluation of Reitmans' shares is wholly self-inflicted and raises several critical issues: 1. Equity Valuation: The current market price significantly underrepresents the Company's intrinsic value, including its net assets, operations and future potential. 2. Limited Investor Reach Having a dual class share structure and listing on the TSXV reduces visibility and attractiveness to large institutional investors who typically focus on senior exchanges. Roughly 90% of large Canadian institutional funds do not have the mandates to hold TSXV-listed securities, thus limiting the potential investors for the Company's shares. Currently no sell side analysts cover Reitmans, as has been the case for several years despite our best efforts to encourage the company to address this. David Kassie, former Chairman of Canaccord Genuity Group, a broker and investment bank, has sat on the Board for 14 years and yet, as the Board's Capital Markets expert, he does not appear to have ever been vocal on the need for the likes of Canaccord and other brokers to publish research on the Company and thus opening the investment case to a wider audience. It is also concerning that, as disclosed by the Company in its 2024 management information circular, David Kassie, the Board's Capital Markets expert, had the lowest attendance rate of any Board member who served during the full fiscal year 2024. 3. Board Inaction & Executive Chairman Dominance: Despite the consistent chronic undervaluation of the Company's equity, the current Board refuses to take any significant and appropriate steps to secure a fairer price for the Company's shares and instead it continues to focus on capital allocation policies that are destructive to shareholder value such as; a. the most recent announcement on 10 April 2025 of large capital expenditure on speculative growth whilst a large buyback of the Company's shares represents a far more compelling return. b. The previously announced minuscule share buyback that appears to be nothing more than a facility to allow staff to sell exercised options into the open market and/or ensure no dilution of the economic rights of the founding family's stake from the exercise of options In addition, the total remuneration and share options awarded ($900,649 in 2024) to Executive Chairman, Stephen Reitman, since taking this position is far in excess of what one would expect for a company of this size. These numbers would be difficult to justify in a high-growth public tech firm, let alone a beaten down, underperforming, TSXV-listed retailer. Since emerging from its restructuring proceedings under the Companies' Creditors Arrangement Act (Canada) ("CCAA") in January of 2022, a process where creditors compromised a significant portion of their debt, the Executive Chairman, who at that time was Chief Executive Officer, was awarded 500,000 shares, over 50% of the 940,000 shares allotted on April 26, 2022, less than 4 months after exiting CCAA proceedings. This fact we are sure has not been lost on the creditors who lost over $90 million dollars during the process. Stephen was also awarded far more shares than what Andrea Limbardi, the Company's first external Chief Executive Officer, received, being 327,689 shares. Not only was Ms. Limbardi awarded less shares upon joining, her shares vest over four years while Stephen Reitman's shares vest in three. Moreover, this is a particularly concerning strategy for Stephen Reitman to take as controlling shareholders do not typically award themselves with excessive options as they already hold enough vested interest in the company's success via existing holdings. Furthermore, given the appalling share price performance under his tenure as Executive Chairman, there should be absolutely no reason for any large option awards. We see this as classic corporate excess and behaviour that reflects an opportunistic approach to governance by the Executive Chairman to extract personal value from the Company as opposed to focusing on creating value for all shareholders. To address this unacceptable situation, we are proposing the following steps be taken by the Board: 1. Collapse Dual Class Structure: Reitmans collapse its dual class share structure and pursue a graduation to the Toronto Stock Exchange ("TSX"), Canada's premier stock exchange. Notwithstanding the significant issues we have flagged that are plaguing the Company we propose a targeted buyback to ensure the founding family is able to maintain voting control of the Company. The return on this buyback would represent an IRR in excess of 100%, a far greater use of the Company's cash pile than pursuing largescale speculative growth as was announced by the Company on 10 April 2025. We steadfastly believe that this step would unlock significant benefits for the Company and its shareholders allowing the following to happen: Increased Visibility: A TSX listing would elevate Reitmans' profile among investors, sell side analysts, and the Canadian financial community. Access to Institutional Investors: Many large institutional investors, restricted to TSX-listed companies, would gain the opportunity to invest in Reitmans, thus significantly broadening the potential shareholder universe. Enhanced Liquidity: Higher trading volumes on the TSX should result in more efficient price discovery, leading to a fairer and more accurate valuation of shares. Strategic Advantage: A stronger market position would provide Reitman's with greater flexibility for growth and value-enhancing opportunities. We are confident that Reitmans meets the TSX listing requirements and that graduation represents a practical and impactful solution to the current valuation crisis. 2. Board Refresh: Minority shareholders have consistently lacked representation on the Board for years. Moreover, we believe that the Executive Chairman has and continues to exert total dominance over the Board's decision-making. We intend to vote against the reappointment of Bruce Guerriero and Daniel Rabinowicz at the upcoming shareholders' meeting scheduled for June 18 2025 (the "Meeting") and to put forward two alternative independent Board nominees who will ensure that minority shareholders are represented appropriately. The reasons for our decision to vote against these reappointments are as follows; Questionable independence as both had existing relationships with Reitman's as external consultants prior to being appointed to the Board. Members of the Concerned Shareholders met with Stephen Reitman in 2024 and he was unaware that Bruce Guerriero was head KPMG Partner on the Reitman's audit from 2007-2013 prior to his appointment to the Board in 2016. It is extremely concerning that the Executive Chairman is not aware of potential conflicts on the Company's Board. Miniscule shareholdings indicating that their interests are not aligned with those of all shareholders. According to public filings, Bruce Guerriero holds 2,500 common shares despite annual Directors fees of C$100,000 and Daniel Rabinowicz holds only 6,500 class A shares despite annual Director's fees of C$95,000 – this is a startlingly low level of share ownership by non executive Directors of a publicly-listed company, especially in light of such long tenures of 9 and 13 years respectively. Clearly these Directors have little interest in seeing the Company's shareholders be awarded with an appropriate valuation given the lack of appropriate action over recent years at Board level. If they held material positions in the Company, then we would have more confidence that their interests were aligned with all shareholders and not just those of the founding family. We also note that according to public filings, Anita Sehgal, another non-executive Director, does not hold any equity since her appointment in 2021 almost 4 years ago despite annual Director's fees of $75,000, again highlighting the lack of alignment of interests at the Board level with those of minority shareholders. The Canadian Coalition for Good Governance recognizes the importance of aligning Board and shareholder interests, and guides that appropriate Board share ownership policies should reflect the below. "Boards should establish a minimum shareholding for directors, perhaps based on a multiple of their annual compensation. The minimum threshold of shares should be held by directors for a minimum of one year after retirement or resignation from the board." "Minimum formal shareholder requirements for directors (achievable over a predetermined time frame) establish and maintain an alignment of interests between directors and shareholders by requiring directors to have a meaningful investment in the company." Failed tenures as neither of the two non-executive Directors have, in our view, demonstrated an ability to steer the Board into making decisions that are in the best interests of all shareholders and not just those of the founding family. Mr. Guerriero and Mr. Rabinowicz have served in their roles for 9 and 13 years, respectively, a period marked by poor decisions at Board level that have resulted in shareholders being in the appalling situation we are in today. Call to Action If, as a fellow shareholder, you agree with the concerns and proposed changes we have outlined above and wish to contact us, you may do so at [email protected] Together, we are hopeful that we can explore and enact on all options to ensure the Board act decisively and in the interests of all shareholders and thereby securing the fair value we feel Reitmans equity deserves. Additional Information The information contained in this press release does not and is not meant to constitute a solicitation of a proxy within the meaning of applicable securities laws. Although there is both a record and meeting date set for the Meeting, shareholders are not being asked at this time to execute a proxy in favour of any resolution that may be considered at the Meeting. In connection with the Meeting, the Concerned Shareholders may file a dissident information circular in due course in compliance with applicable corporate and securities laws. Notwithstanding the foregoing, the Concerned Shareholders are voluntarily providing the disclosure required under section 9.2(4) of National Instrument 51-102 – Continuous Disclosure Obligations (" NI 51-102") and section 150(1.2) of the Canada Business Corporations Act in accordance with Canadian corporate and securities laws applicable to public broadcast solicitations. The information contained herein and any solicitation made by the Concerned Shareholders in advance of the Meeting is, or will be, as applicable, made by the Concerned Shareholders and not by or on behalf of the management of Reitmans. All costs incurred for any solicitation will be borne by the Concerned Shareholders, provided that, subject to applicable law, the Concerned Shareholders may seek reimbursement from Reitmans of the Concerned Shareholders' out-of-pocket expenses, including proxy solicitation expenses and legal fees, incurred in connection therewith. The Concerned Shareholders are not soliciting proxies in connection with the Meeting at this time. The Concerned Shareholders may engage the services of one or more agents and authorize other persons to assist in soliciting proxies on behalf of the Concerned Shareholders. Any proxies solicited by or on behalf of the Concerned Shareholders may be solicited pursuant to a dissident information circular sent to shareholders, after which solicitations may be made by or on behalf of the Concerned Shareholders, by mail, telephone, fax, email or other electronic means as well as by newspaper or other media advertising, and in person by directors, officers and employees of the Concerns Shareholders, who will not be specifically remunerated therefore, or by way of public broadcast, including through press releases, speeches or publications and by any other manner permitted under Canadian corporate and securities laws. The Concerned Shareholders are not requesting that shareholders submit a proxy at this time. If and when the Concerned Shareholders commence a formal solicitation of proxies in connection with the Meeting, proxies may be revoked by instrument in writing executed by a shareholder or by his or her attorney authorized in writing or, if the shareholder is a body corporate, by an officer or attorney thereof duly authorized or by any other manner permitted by law. The Concerned Shareholders, being Donville Kent Asset Management Inc., Parma Investments Limited and a private investor, collectively own 5,576,835 class A shares and 1,193,800 common shares of the Company. The Company's principal business office is located at 250 Sauvé Street West, Montreal, QC H3L 1Z2. SOURCE Concerned shareholders of Reitmans (Canada) Limited
Yahoo
06-02-2025
- Lifestyle
- Yahoo
Canadian brand Reitmans has 100s of epic deals right now up to 75% off — 15 best blouses, pants, jackets and more under $100
Does your wardrobe need a refresh? If you want to add some new pieces for work or lounging around but want to save a few bucks, we've spotted a sale that might interest you. Reitmans currently has hundreds of deals on clothing and accessories, with discounts of up to 70 per cent. The Canadian company is offering an additional 20 per cent off sale items, meaning you can score some sweet savings — that's a total discount of up to 75 per cent off. Whether you're looking to update your workwear, elevate your casual style or add some standout pieces to your closet, there's a ton of great picks. If you're not sure where to start, we've rounded up a few standout pieces we're eyeing. But don't wait too long — some styles are already selling out. This stylish long-sleeve sweater features a boat neckline and balloon sleeves, as well as a cozy plush knit, perfect for riding out the winter. A versatile pair of jeans is a staple in any closet. This pair offers a stretch fabric and mid-rise for a comfortable fit and a straight leg that will go with everything. This warm, polar fleece jacket is perfect for layering under your winter coat or wearing on its own on warmer days. It features a mock neck, slim fit and pockets. This chic blouse features a flowy fit, a mock neckline and long, sheer sleeves. Wear it to work or as an elevated everyday look. These tapered pants have a removable self-tie sash and are made from a stretch woven fabric for added comfort. They're great for wearing to both work and casual outings and can easily be dressed up. A cozy knit sweater is great for transitioning into spring. This cowl-neck version features a space dye and sleeves with a dropped shoulder for an effortless look. This lightweight jacket is water-repellant and wind-resistant, making it great for going from winter to spring. Its packable design makes it great for taking on the go. With an elastic waistband and a stretchy, twill fabric, these joggers are great for everyday wear. They come in two versatile shades that'll fit right into your wardrobe. This long-sleeve sweater dress is cozy and chic and can easily be dressed up or worn for more casual occasions. This v-neck long-sleeve shirt is a great everyday essential to have in your wardrobe. It's made with a stretch-knit fabric and is semi-fitted for all-day comfort. These high-rise pants feature a wide leg, pull-on waistband and a soft, waffled fabric, so you can be stylish and comfortable at the same time. A cozy vest is a great layering piece for transitional weather periods. This one is water-repellent, insulated and semi-fitted, perfect for getting moving outdoors. This cap-sleeved blouse has a split neckline and side slits. It's made with a crepe fabric that provides a flattering, drapey fit. These soft jersey leggings are quick drying and easily wick away moisture, making them great for both lounging and working out. A turtleneck sweater is great for layering up on colder days but can also be worn into spring. This one features a soft, stretch-knit fabric and a chic striped pattern.
