Canadian retail chain Dollarama has reported that its earnings before interest, taxes, depreciation and amortisation grew by 24% to C$478.8m ($352.7m) in the third quarter (Q3) of fiscal 2024 (FY24), compared with C$386.2m in the same period in FY23.

The retailer’s net earnings for the quarter increased to C$261.1m from C$201.6m in Q3 FY23, and its diluted net earnings per common share for the period also increased by 31.4% to C$0.92, from C$0.70 a year previously.

During the 13 weeks ending 29 October 2023, sales of Dollarama increased by 14.6% to C$1.4bn, from C$1.2bn in Q3 FY23.

The increase was driven by growth in the total number of stores and an 11.1% increase in comparable store sales.

The retailer’s total number of stores increased from 1,462 to 1,541 over the 12 months to December 2023.

Dollarama delivered an operating income of C$386.7m in Q3 FY24, an increase of 27.8% from C$302.6m in Q3 FY23.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The company’s gross profit for the quarter was C$670.2m compared with C$558.7m in the same period of the previous year.

For FY24, Dollarama expects its comparable store sales to grow between 11% and 12%.

Dollarama president and CEO Neil Rossy stated: “Sustained consumer demand for our broad range of affordable everyday products and strong execution in the third quarter of fiscal 2024 drove double-digit same-store sales growth for a sixth consecutive quarter as well as over 31% earnings per share growth.

“Our financial and operational performance year-to-date reflects the strength and relevance of our value proposition and business model in a challenging macro-economic context.”