March 01, 2018 - 8:01 AM
MONTREAL - Women's fashion retailer Reitmans Ltd. says it is closing all of its Hyba stores.
The Montreal-based company says the 17 locations will shutter by next February as it moves the brand into its existing 270 Reitmans stores and online.
Hyba sells workout clothes for women including gym clothes, yoga wear and running gear.
The stores were converted from Smart Set locations when the chain closed its 107 locations in 2015 and rebranded dozens to other store names.
They account for less than two per cent of Reitmans annual sales.
Reitmans says it will take a non-cash charge of about $1.5 million related to the closures and a $2-million provision for stores leases in its fourth quarter, which will be reported April 4.
Companies in this story: (TSX:RET)
News from © The Canadian Press, 2018