Dollarama reports $179.9M Q1 profit, up from $145.5M a year ago, sales up 20.7%
By The Canadian Press on June 7, 2023.
MONTREAL – Dollarama Inc. says it earned $179.9 million in its latest quarter, up from $145 .5 million in the same quarter a year earlier, as its sales gained 20.7 per cent. The retailer says its profit amounted to 63 cents per diluted share for the quarter ended April 30, up from 49 cents per diluted share a year earlier. Sales in what was the company’s first quarter totalled $1.29 billion, up from $1.07 billion in the same quarter last year. The increase came as comparable store sales grew 17.1 per cent on a 15.5 per cent increase in the number of transactions and a 1.4 per cent increase in average transaction size. Dollarama says the increase in comparable store sales was attributable to strong demand across its offerings, including consumables, seasonal items and general merchandise. Analysts on average had expected a profit of 59 cents per share and $1.25 billion in sales, according to estimates compiled by financial markets data firm Refinitiv. This report by The Canadian Press was first published June 7, 2023. Companies in this story: (TSX:DOL) 9-8
