Dollarama profits on the rise

The Canadian Press – | History: 462302

Dollarama Inc. said its third-quarter profit and sales rose compared with a year earlier and raised its guidance for comparable-store sales.

The retailer says it earned $261.1 million or 92 cents per diluted share in the 13-week period ended Oct. 29, up from earnings of $201.6 million or 70 cents per diluted share a year earlier.

Sales totaled US$1.48 billion, up from US$1.29 billion in the same quarter last year.

Dollarama says the increase in sales was driven by growth in the total number of stores and increased comparable store sales.

Comparable store sales grew 11.1% as the number of transactions increased 10.4% and average transaction size increased 0.6%.

From its outlook, the company says it now expects full-year comparable store sales to grow between 11 and 12 percent, up from previous expectations of 10 and 11 percent growth.

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