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Dollarama reports $359.3M Q2 profit, up from $321.5M a year ago
The Montreal-based retailer said cautious consumers and more stores helped lift comparable sales 5.4% and support a higher full-year outlook.
- On Wednesday, Dollarama raised its annual Canadian sales forecast after reporting a 5.4% increase in comparable store sales for the quarter ended Aug. 2, exceeding internal projections.
- Cautious consumers are driving traffic to discount stores as household budgets face strain from fuel price spikes and trade-war uncertainty; chief executive officer Neil Rossy noted shoppers are "making careful spending decisions."
- Sales for the quarter reached $2.03 billion, a 17.6% jump from last year, while net earnings grew to $349.3 million with a 3.7% increase in transaction volume.
- Dollarama accelerated store expansion plans, targeting 65 to 75 new Canadian locations this year, while also integrating Australian discount chain The Reject Shop Ltd. into its portfolio.
- The company now expects comparable sales growth between 4% and 4.5% for the fiscal year, results that exceeded analyst expectations of 4.2% despite economic headwinds.
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TVA NouvellesReposted by 
Le Journal de Quebec
Le Journal de QuebecThe concern of households, faced with inflationary pressures, pushes Dollarama to raise its growth forecasts for the current year.
·Montreal, Canada
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Bowen Island Undercurrent+3 Reposted by 3 other sources
Dollarama reports $349.3M Q2 profit, up from $321.5M a year ago
MONTREAL — Dollarama Inc. reported a second-quarter profit of $349.3 million, up from $321.5 million in the same quarter last year. The retailer said Wednesday its profit amounted to $1.29 per diluted share for the quarter ended Aug. 2, up from $1.
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Total News Sources25
Leaning Left9Leaning Right2Center3Last UpdatedBias Distribution64% Left
Bias Distribution
- 64% of the sources lean Left
64% Left
L 64%
C 22%
14%
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