Dollarama s revenue, profit surge as customers spend more per transaction
|CTVnews 07 Jun 2017 at 06:50|
MONTREAL -- A 10-per-cent increase in sales at Dollarama Inc. (TSX:DOL) helped push up the discount chain s latest quarterly profit to $94.7 million.
The Montreal-based retailer 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 year s first quarter, according to Thomson Reuters data.
However, analysts had expected Dollarama 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.