Canadian value retailer Dollarama, Inc. (DOL.TO) announced on Wednesday that its net earnings for the second quarter rose to $285.94 million, or $1.02 per share, from $245.76 million, or $0.86 per share, in the same quarter last year.
On average, nine analysts surveyed by Thomson Reuters projected the company would report earnings of $0.97 per share for the quarter. Typically, analysts' estimates do not include special items.
Sales for the quarter increased by 7.4 percent, reaching $1.56 billion, up from $1.46 billion in the corresponding period last year. Comparable store sales grew by 4.7 percent. Analysts had forecasted revenues of $1.57 billion for the quarter.
For fiscal 2025, the company anticipates comparable store sales growth of 3.5 to 4.5 percent and plans to open 60 to 70 new stores.
Additionally, the Corporation announced that its board of directors has approved a quarterly cash dividend of $0.0920 per common share. This will be payable on November 1, 2024, to shareholders of record at the close of business on October 4, 2024.
