Dollarama Inc. says it earned a bigger profit than experts estimated it would in the first three months of the year — up nearly 22 per cent.
Dollarama says the jump was helped by a 5.9 per cent increase in average amount spent per transaction as well as more transactions and a bigger store network.
The company added 17 stores during the quarter ended May 3, bringing the total to 972 Dollarama stores.
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Comparable sales from locations open at least a year — an important retail metric that shows the pace of ongoing sales — rose 6.9 per cent.
A $64.8-million topped analyst estimates compiled by Thomson Reuters. Sales rose nearly 13 per cent to $566.1 million, which was slightly above analyst estimates and up 13 per cent from the last year.
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