Reitmans is Canada’s leading specialty retailer and was founded in 1926. This company is value oriented, customer driven, and committed to excellence. The company strives to attend their customers to the best products and services on the market by promoting innovation, growth and teamwork. Reitmans has 867 stores across Canada including Smart Set, RW & CO., Thyme Penningtons, and Addition Elle. They have approximately 566,000 sq. ft. of distribution space in Montreal where they are capable of processing more than 55,000,000 units of merchandise per year. It is the preferred destination for women looking to update their wardrobe with the latest styles and colors for an affordable price.
During the fiscal period of 2005, sales increased
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In 2005, Reitmans opened 57 new stores, remodeled 26 stores and closed 35 stores. Future plans include opening 42 new stores and remodeling 22 stores for 2006. Profitability has grown more than 100% over the last 3 years and the company will continue to seek out new business opportunities. Reitmans currently leases two retail locations which are owned by a related party and has investments in marketable securities, primarily high quality preferred shares and income trusts. Investment income for fiscal 2005 amounted to $9,639,000 (net capital gains of $3,651,000) compared to $9,584,000 (net capital gains of $2,605,000) last …show more content…
Future income tax assets and liabilities are measured using enacted income tax rates expected to apply to taxable income in the years in which temporary differences are expected to be recovered or settled. Deferred financing costs, included in other assets, are amortized on a straight-line basis over the term of the bank financing. Reitmans accounts for stock-based compensation and other stock-based payments use the fair value based method. Basic earnings per share is determined with the weighted average number of non-voting and common shares outstanding during the period. When calculating diluted earnings per share, the weighted average shares outstanding are increased to include additional shares from the expected exercise of options. The number of additional shares is calculated by assuming that the proceeds from such exercises are used to repurchase non-voting and common shares at the average market price during the reporting period. Deferred licensing revenue is amortized on a straight-line basis. The financial statements and accompanying notes have been prepared on a consolidated basis and reflect the consolidated financial position of Reitmans and its wholly-owned subsidiaries. Merchandise inventories are valued at the lower of cost, determined principally on an average basis using the retail inventory method and net realizable value. Income is recorded on the accrual basis. Capital
Case: Rick Sanchez is an older white male, who carries a flask on him and can frequently be seen drinking out of it, this is concerning because of his pension of flying his hovercraft after having a few pulls and possibly endangering his life as well as his grandsons who is often with him. Rick Sanchez has complete disregard for the law, and lives on his own terms. He is wanted by the Galactic Federation for numerous crimes. He often acts with disregard for the lives of others. He has an extreme intellect which he uses by inventing things, though he does not try to sell these inventions to the benefit of his family. Sanchez does not hold a steady job and relies on his daughter Beth for housing and financial
1.3. In order to estimate the peso discount rate, assume that the International Fisher Effect (IFE) holds. Groupe Ariel's Euro hurdle rate for a project of this type was 8%. Assume that inflation rates are expected to be 7% in Mexico and 3% in France.
* In some business combinations, the acquirer has cumulative losses that caused the acquirer to conclude that a valuation allowance was required on its deferred tax assets (including net operating losses) immediately prior to the acquisition, and the deferred tax liabilities assumed in the business combination are available to offset the reversal of the acquirer’s pre-existing deferred tax assets.
When a law enforcement officer or other public employee is accused of potentially criminal conduct, they may face three different kinds of interviews or interrogations. If an officer is interviewed as a criminal suspect, they have the absolute right to decline to answer any questions, or to insist that they have a lawyer of their choosing to attend the interview. The first is type is during a criminal investigation; the second is during a disciplinary investigation and finally during the course of civil litigation where there has been damages. During a criminal interview, there is no professional, ethical or moral duty to participate especially without the assistance of an attorney to represent the officer under investigation. It has come to a surprise that many experienced officers will waive their right to silence and give the investigators an audio recorded statement. Some of the inexperienced criminals do not make incriminating statements. The motive for cooperation is to avoid unfavorable publicity.
This course focuses on ways in which financial statements reflect business operations and emphasizes use of financial statements in the decision-making process. The course encompasses all business forms and various sectors such as merchandising, manufacturing and service. Students make extensive use of spreadsheet applications to analyze accounting records and financial statements. Prerequisites: COMP100 and MATH114 / 4-4
With the need to fund additional stores, Ross offered its first initial public offering in 1985. Ross, by this time, had a total store count of 107 which was a significant jump from the six stores that was Ross three years earlier. By the end of 1985, Ross had stores in Colorado, Florida, Georgia, New Mexico, and Oregon. It also boasted sales of $375.9 million. With record-setting growth and record-setting profit, Ross opened an additional 41 stores in 1985 and 39 stores in 1986 reaching Maryland, North Carolina, and Virginia. Annual sales would then surpass the $500 million mark by the end of the year. Even with the tremendous sales, the company had to close 25 unprofitable stores in Texas and Oklahoma. Ross endured a loss that year of $41.1 million. Ross Dress for Less is an S&P 500, Fortune 500 and Nasdaq 100 (ROST).
Reiss a retailer of “own brand” quality fashion menswear and womenswear that established itself in London in 1970. The brand has become reorganized as a progressive, fashion-led retail company. Designing and producing own –label ranges it offers an aspirational look at affordable prices
The capital structure of this retail drugstore is determined by 42,5% Debt and 57,50% Equity due to $8.239 of the total debt and $11,104,30 of Equity resulting in $19,313.60 of Total Liabilities and Shareholders’ Equity for 2007. Among the main debt-financing sources,
Old Dominion University, situated in the waterfront city of Norfolk, is Virginia's entrepreneurial-disapproved of doctoral research college with more than 24,500 understudies, thorough scholastics, an enthusiastic private group, and activities that contribute $2.6 billion yearly to Virginia's
The statement of cash flows outlines some of the changes to the capital structure. The company added $164.5 million in a consolidated loan facility, and it paid out $138.1 million in dividends. There were no share buybacks during the year. The company states in the annual report (p.4) that it intends to maintain a conservative gearing ratio. The company in this section attributes its increased borrowings to projects and opportunities on which it has embarked. These investments lie within the integrated retail, franchise and property system. One of the
“Manslaughter - Recklessness or gross negligence - Assumption of duty of care for infirm person - Breach of duty amounting to recklessness - Negligence - Assumption of duty to care.”
In the past, the booming economy had allowed for year to year increase in their sales because people had larger discretionary incomes. But due to the recession, smaller independent retailers had to markdown their items in order to stay in business because designer outlet stores are getting more traffic; so will Harry Rosen follow in suit? Or in order to maintain the integrity of the quality products they offer, will they continue their higher pricing and settle for a lower market share?
This is the area where Reisenwitz’s usage of studies begins to verge from backed by research into opinion. The first issue Reisenwitz faces is that she does not cite any studies that were backed within the US which could prove that the regulations of the DEA were cause for the increase in opioid overdose. She later claims that the opioid epidemic can be accelerated into resolution by dismantling the DEA. Once again, there are extreme statistical concerns with her conclusion. Can we say, with enough of a confidence interval, that dismantling the DEA would resolve the opioid epidemic? While the subjects of the study are honorable people, the pain that they suffer from drives them into behaving like an average opioid street addict. The sample
* To reassess the identification and measurement of the acquiree’s identifiable assets, liabilities and contingent liabilities and the measurement of the cost of the business combination if the acquirer’s interest in the net fair value of the items recognised exceeds the cost of the combination. Any excess remaining after that reassessment must be recognised by the acquirer immediately in profit or loss.
Renova has achieved a leadership position quickly after switching from office paper to disposable paper products in 1961. In 2005, Renova has an incremental sales of euro 104 million with approximately 600 employers in both domestic industry and international industry. As a global market, the main competitors in the tissue company is dominated by giant companies such as Procter and Gamble and Kimberly-Clark, along with other group of firms like retailers and giant paper companies with competitive advantages. Under the circumstance, Renova needs to imply a differentiation strategy in order to obtain more market share in the tissue industry in the foreseeable future.