Reitmans announces sudden departure of Chief Operating Officer

By

Jennifer Braun

Published
Nov 21, 2017

Canadian retailer Reitmans (Canada) Limited announced on Monday the sudden departure of its Chief Operating Officer and President of Retail, Walter Lamothe.
 

Effective immediately, Lamothe is leaving the company after six years of service. He joined the company in 2011 as President of the Addition Elle and Penningtons banners. Prior to that he served as Chief Executive Officer at Liz Claiborne Canada at Liz Claiborne Inc.
 
“During Mr. Lamothe's tenure, the company achieved key milestones including enhancing its e-commerce business and significantly reducing the number of its store locations to respond to a shift in consumer shopping behaviours. The  company will continue to benefit from the initiatives which he has established,” Reitmans said, in a news statement.  

For the interim, Stephen F. Reitman, President, will reassume the responsibilities of Chief Operating Officer.
 
Despite turbulent times for fashion retailers, the Canadian retailer posted promising financial results in its last quarter, including sales of $251.1 million for the second quarter ended July 29, 2017 with a net reduction of 55 stores.
 
The company operates 652 stores across Canada through its banners, Reitmans, Addition Elle, Penningtons, RW&CO., Thyme Maternity and Hyba.