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Dollarama reports third quarter profit, sales up from year ago

Discount retailer sees an increase in key performance metrics including same-store sales

Photo by: Ted Brellisford, The Hamilton Spectator.Photo by: Ted Brellisford, The Hamilton Spectator.

Dollarama Inc. reported a third-quarter profit of $138.6 million, up from $132.1 million in the same quarter last year, helped by a boost in sales.

The discount retailer says the profit amounted to 44 cents per diluted share for the 13-week period ended Nov. 3 compared with a profit of 40 cents per diluted share in the same quarter last year.

Sales in the quarter totalled $947.6 million, up from $864.3 million.

The improvement in sales came as comparable store sales, a key metric for retailers, grew 5.3%.

Dollarama says the average transaction size grew 2.8%, while the number of transactions rose 2.4%.

Analysts on average had expected sales of $936.8 million and a profit of 45 cents per share, according to financial markets data firm Refinitiv.

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