Dollarama profit rises as customers spend more
|Toronto Star 07 Jun 2017 at 05:58|
MONTREALâ€”A 10-per-cent increase in sales at Dollarama Inc. helped push up the discount chainâ€™s latest quarterly profit to $94.7 million.
The Montreal-based retailerâ€™s profit equalled 82 cents per share of net income for the quarter ended April 30.
That was up from $83.2 million, or 68 cents per share of net income, in the comparable period last year.
Analysts had estimated 79 cents per share of profit for this yearâ€™s first quarter, according to Thomson Reuters data.
However, analysts had expected Dollaramaâ€™s sales to grow even more than they did.
Dollarama recorded $704.9 million of sales, below the estimate of $716 million.
The company says an increase in the average transaction value drove an increase in comparable sales growth, which was 4.6 per cent, but that was partly offset by a decline in the number of transactions relative to the same time last year.