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Dollarama reports third-quarter profit and sales up from year ago

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MONTREAL — Dollarama Inc. noted its 3rd-quarter earnings and sales rose compared with a 12 months ago as it elevated its equivalent-shop income growth assistance.

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The retailer mentioned Wednesday it acquired $201.6 million or 70 cents for each diluted share for the 13-week period ended Oct. 30, when compared with a profit of $183.4 million or 61 cents for every share in the similar quarter very last year.

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Product sales for the quarter totalled $1.29 billion, up from $1.12 billion a 12 months previously.

Similar-keep revenue rose 10.8 for every cent as the number of transactions climbed 10.3 per cent and the common transaction measurement acquired .4 per cent.

Dollarama main executive Neil Rossy explained as inflationary strain on customers persist, the organization expects strong need for consumable solutions to maintain stimulating topline growth through to the end of its fiscal yr.

“Our sturdy functionality throughout our key metrics year to day speaks to our dedication to offering the finest calendar year-round worth on the daily solutions we present, merged with a easy and reliable purchasing encounter,” Rossy stated in a statement.

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In its steerage for the year, Dollarama claims it now expects comparable-shop income progress for its recent economical 12 months to be in a selection of 9.5 to 10.5 for each cent in comparison with previously expectations for a selection of 6.5 to 7.5 for every cent.

The corporation also narrowed its guidance for its annual gross margin as a proportion of gross sales to a vary of 43.1 to 43.6 per cent in contrast with before expectations for a range of 42.9 to 43.9 per cent.

Dollarama also mentioned Wednesday that it has signed a deal to buy a few contiguous industrial attributes in Mount Royal, Que., around its centralized logistics functions and up coming to its distribution centre for $87.3 million.

The firm options to redevelop the internet site to assist its upcoming logistics requirements.

“This will provide us with added versatility to support our very long-term logistics desires as we pursue our goal of 2,000 Dollarama shops in Canada by 2031,” Rossy claimed.

This report by The Canadian Push was initially printed Dec. 7, 2022.

Corporations in this story: (TSX:DOL)