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Same-store sales in the fourth quarter increased by 15.9%, compared to a growth of 5.7% a year earlier. Analysts on average expected growth to be at 9.63%.
The discount store chain said the introduction of additional price points up to $5, strong demand for consumable products, seasonal items and general merchandise, as well as fresh product offerings contributed to same-store sales growth.
The company said it expects annual same-store sales growth of 5% to 6%, compared with analysts’ average estimate of 5.7%, according to Refinitiv IBES data.
Net income attributable to Dollarama rose to C$261.3 million, or 91 cents per share, in quarter ended Jan. 29, from C$220 million, 74 Canadian cents per share a year earlier.
Dollarama’s revenue rose 20.3% to C$1.47 billion ($1.08 billion), beating expectations of C$1.39 billion, according to Refinitiv IBES data.
($1 = 1.3594 Canadian dollars)
