Dollarama reports $113.6M Q1 profit, up from $86.1M a year ago, sales up 13%

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Dollarama Inc. says it earned $113.6 million in its latest quarter, up from $86.1 million a year ago, as its sales increased 13 per cent.

The retailer says its profit for the quarter ended May 2 totalled 37 cents per diluted share, up from a profit of 28 cents per diluted share a year ago.

Sales in what was Dollarama's first quarter grew to $954.2 million, up from $844.8 million in the same quarter last year.

Comparable store sales, excluding temporarily closed stores, increased by 5.8 per cent as the average transaction size increased 9.3 per cent, but the number of transactions dropped 3.2 per cent.

Dollarama says a stay-at-home order in response to a surge in COVID-19 cases in Ontario where about 40 per cent of its stores are located banned the sale of non-essential goods at its stores starting April 8.

The Ontario government has announced the ban will be lifted Friday.

- This report by The Canadian Press was first published June 9, 2021.

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