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Dollarama Sees Stellar Growth Amidst Economic Headwinds
12 Dec
Summary
- Total sales exceeded $1.9 billion, marking a 22% increase.
- Net earnings grew 16.6% to $321.7 million with diluted EPS up 19.4%.
- Company expanded its footprint with 19 net new Canadian stores and 25 in Latin America.
Dollarama Inc. announced a robust third quarter, demonstrating remarkable resilience with total sales climbing more than 22% to exceed $1.9 billion. The company's financial health is underscored by a 16.6% increase in net earnings, reaching $321.7 million, and a substantial 19.4% surge in diluted earnings per share to $1.17. These positive results reflect strong consumer demand and effective operational strategies.
The retailer continued its strategic expansion during the quarter, opening 19 net new stores in Canada, bringing its total to 1,684 locations. Simultaneously, its Latin American segment, Dollar City, added 25 new stores, reaching a total of 700 locations. Dollar City also significantly contributed to net earnings, showing a 56.5% year-over-year increase.
