Dollarama reports third-quarter profit and sales up from year ago

Dollarama Inc. reported its third-quarter revenue and gross sales rose in contrast with a yr in the past and raised its comparable-store gross sales development steerage.

The retailer says it earned $201.6 million or 70 cents per diluted share for the 13-week interval ended Oct. 30 in contrast with a revenue of $183.4 million or 61 cents per share in the identical quarter final yr.

Sales for the quarter totalled $1.29 billion, up from $1.12 billion a yr earlier.

Comparable-store gross sales rose 10.8 per cent because the variety of transactions climbed 10.3 per cent and the typical transaction dimension gained 0.4 per cent.

In its steerage for the yr, Dollarama says it now expects comparable-store gross sales development for its present monetary yr to be in a variety of 9.5 to 10.5 per cent in contrast with earlier expectations for a variety of 6.5 to 7.5 per cent.

The firm additionally narrowed its steerage for its annual gross margin as a proportion of gross sales to a variety of 43.1 to 43.6 per cent in contrast with earlier expectations for a variety of 42.9 to 43.9 per cent.

– This report by The Canadian Press was first printed Dec. 7, 2022.