Dollarama reports $285.9M Q2 profit, up from $245.8M a year ago

Dollarama Inc. reported a second-quarter profit of $285.9 million, up from $245.8 million in the same quarter last year as its sales rose 7.4 per cent.

The retailer says the profit amounted to $1.02 per diluted share for the 13-week period ended July 28, up from 86 cents per diluted share a year earlier.

Sales totalled $1.56 billion for the quarter, up from $1.46 billion in the same quarter last year.

Comparable store sales, a key metric for retailers, increased by 4.7 per cent.

The increase in comparable store sales included a 7.0 per cent increase in the number of transactions and a 2.2 per cent drop in average transaction size.

Dollarama chief executive Neil Rossy says the company generated strong results across the board as its comparable store sales continued to normalize.

This report by The Canadian Press was first published Sept. 11, 2024.