Dollarama Inc. (DOL.TO) reported third quarter net earnings of C$261.1 million, or C$0.92 per share, compared to C$201.6 million, or C$0.70 per common share, prior year. On average, ten analysts polled by Thomson Reuters expected the company to report profit per share of C$0.86, for the quarter. Analysts' estimates typically exclude special items.
Sales for the third quarter increased by 14.6% to C$1.48 billion. The company said this increase was driven by growth in the total number of stores over the past 12 months and increased comparable store sales. Comparable store sales for the third quarter increased by 11.1%. The company said the increase in comparable store sales is primarily attributable to higher sales across all product categories, including continued higher than historical demand for consumables. Analysts on average had estimated C$1.48 billion in revenue.
On December 13, 2023, the Corporation announced that its board of directors approved a quarterly cash dividend for holders of common shares of C$0.0708 per common share. The dividend is payable on February 2, 2024 to shareholders of record at the close of business on January 5, 2024.
The company increased fiscal 2024 guidance for comparable store sales growth to between 11.0% to 12.0%.
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