04:53 PM EDT, 04/18/2024 (MT Newswires) -- Reitmans (Canada) ( RTMNF ) on Thursday said it broke even it in its fiscal fourth-quarter, posting no profit despite higher revenue.

The clothing retailer posted no profit or loss in the quarter ended Feb.3, down from a profit of C$27.5 million in the year-prior period.

Revenue rose 3.8% to C$221 million from C$212.9 million a year earlier.

"We are pleased with the results for the fourth quarter of 2024 which capped off a year that saw significant headwinds for the retail industry with high inflation and high interest rates negatively impacting consumer shopping behavior. Results from operating activities for the fourth quarter of fiscal 2024 and the full fiscal 2024 year were amongst the best for RCL in a decade, even after excluding the extra week of fiscal 2024 and an unfavourable foreign exchange impact," chief executive Andrea Limbardi said in a release.

Reitmans shares closed unchanged at C$2.46 on the TSX Venture Exchange.