Dollarama earns $273.8M Q1 profit, up from $215.8M a year ago, sales up 8.2%

Dollarama Inc. reported a first-quarter profit of $273.8 million, up from $215.8 million a year earlier, as its sales rose 8.2%.

The retailer says its profit amounted to 98 cents per diluted share for the 13-week period ended May 4, up from 77 cents per diluted share a year earlier.

Excluding an unrealized gain from a derivative on equity-accounted investment, Dollarama says it would have earned 95 cents per diluted share in its most recent quarter.

Sales for the quarter totalled $1.52 billion, up from $1.41 billion in the same quarter last year.

The increase came as comparable store sales for the quarter increased by 4.9%, including a 3.7% increase in the number of transactions and a 1.2% increase in average transaction size.

Dollarama says the growth was primarily driven by strong demand for consumables, while also benefiting from its seasonal offerings.