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Dollarama sales surge 13.7% Add to ...

Dollarama Inc. says its profit surged to $31.3-million in the third-quarter as the discount retailer's sales increased 13.7 per cent and expenses were tightened.

The Montreal-based company said diluted earnings per share were 42 cents for the three month period ended Oct. 31, compared to a profit of $1.1-million or 2 cents per share a year earlier.

Sales rose to $355.7-million from $312.8-million.

In the quarter, Dollarama opened 17 stores and closed one.

"We continue to meet our new store opening targets and we recorded a healthy increase in comparable store sales," said chief executive officer Larry Rossy.

"During the quarter, we successfully deployed our point-of-sale scanners in 639 stores which will greatly improve the quality and accuracy of the collected data at the check-out."

 
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