(Montreal) Dollarama reports a 27.8% year-on-year increase in its third quarter operating profit, which rose this year to 386.7 million.
During the same period, the Quebec retailer’s diluted net income per common share increased by 31.4% to $0.92, compared to $0.70 a year earlier.
Third-quarter sales increased year-over-year by 14.6% to $1.477 billion, compared to $1.289 billion for the same period last year. Dollarama attributes this increase to the increase in the total number of stores over the last 12 months, which increased from 1,462 stores as of October 30, 2022 to 1,541 as of October 29, as well as to the increase of 11.1%. same-store sales.
Dollarama President and CEO Neil Rossy reports double-digit same-store sales growth for a sixth straight quarter and an increase in earnings per share of more than 31%. In his opinion, the financial and operational performance since the beginning of the financial year reflects the solidity and relevance of the retailer’s business model in a difficult macroeconomic context.
Dollarama announced Wednesday that its board of directors has approved a quarterly cash dividend for common shareholders of $0.0708 per common share, which will be paid on February 2.
Company cited in this report: Dollarama (TSX: DOL)
