suggest steps the company might take to reduce its losses and establish profitability,

the cenario:

Reitmans Ltd. (RET.TO) says it had a net loss of $3.2 million in the last quarter in an improvement from the $6.6 million net loss in the same quarter a year earlier (The Canadian Press, 2018).

Reitmans management says sales were $207.6 million in the quarter, compared with $207.1 million a year earlier despite a net reduction of 32 stores, while promotional costs were up on increased activity. The company said in March it would close its 17 Hyba athletic clothing stores by next February and move the brand into the company's existing Reitmans stores (The Canadian Press, 2018).

Reitmans also states Online sales jumped 21.9 per cent in the quarter while store sales dropped 3.9 per cent.

Reference

The Canadian Press. (2018, June 05). Reitmans reports $3.2M net loss; sales steady despite store closures - Article. Retrieved from https://www.bnnbloomberg.ca/reitmans-reports-3-2m-net-loss-sales-steady-despite-store-closures-1.1088263