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Posted AT 11:36 AM EST on 04/06/08

Reitmans ekes out profit growth

VIRGINIA GALT

Globe and Mail Update

A strong dollar and tight inventory management allowed Reitmans (Canada) Ltd. to post a marginal profit increase in the first-quarter of 2008, despite a “challenging retail environment” caused by poor weather, reduced customer traffic and lower consumer confidence, the Montreal-baaed retailer said Wednesday. First-quarter profit for the period ended May 3, 2008, increased to $18.43-million from $18.

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