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MONTREAL — Dollarama Inc., Canada’s largest operator of dollar stores, said on Wednesday that profits rose 21% to $100 million in the fourth quarter as same-store sales jumped 8.5%, up from the 1.1% increase a year earlier.
Dollarama Inc., Canada’s largest operator of dollar stores, said on Wednesday that profits rose 21% to $100 million in the fourth quarter as same-store sales jumped 8.5%, up from the 1.1% increase a year earlier.
Year-earlier results were hurt by bad weather during the 2013 year-end holiday season that caused temporary closure of about 80 stores.
The company said sales in the 13 weeks through February 1 were also aided by an increase in store count. Dollarama opened 27 stores in the fourth quarter and 81 stores in the fiscal year, taking its total to 955.
Dollarama sells items priced up to $3 at its stores spread across 10 provinces.
Comparable-store growth was buoyed by a 3.6% rise in the number of transactions and a 4.7% boost in basket value.
The company also announced it would increase its quarterly dividend by 12.5% to 9 cents a share.
