BUSINESS

Dollarama Sales, Profits Soar

12/04/2014 09:03 EST | Updated 02/03/2015 05:59 EST
CP
MONTREAL - Dollarama Inc. (TSX:DOL) said Thursday it earned $73 million in its latest quarter, up from $61.7 million a year ago as sales increased 12 per cent.

The discount retailer said the profit amounted to 55 cents per diluted share for the quarter ended Nov. 2, up from 43 cents per diluted share a year ago.

Sales at Dollarama totalled $588 million, up from $522.9 in its third quarter last year as comparable store sales growth increased 5.9 per cent.

The company said there was a 4.8 per cent increase in the average transaction size and a 1.1 per cent increase in the number of transactions.

Dollarama opened 11 net new stores in this quarter.

"The Halloween sales were very strong this year and consumers continue to rely on Dollarama's broad assortment of everyday merchandise at compelling prices," said Larry Rossy, Dollarama's chief executive and chairman.

Dollarama has some 928 stores across Canada.

Also on HuffPost:

Stores That May Disappear From Canada