Dollarama's Fourth Quarter Profit Misses Estimates
Canadian discount chain Dollarama Inc's quarterly profit marginally missed analysts' estimates on Thursday, as fewer customers shopped at its dollar stores.
The company said while average transaction size rose 3% in the quarter, the comparable store sales growth was partially offset by a 0.4% fall in the number of transactions.
The retailer's comparable store sales for the fourth quarter ended Feb. 3 rose 2.6%.
Dollarama said it opened 33 new stores in the quarter, compared with 25 stores a year ago.
The Montreal-based company's net income for the quarter rose to C$171.98 million ($128.1 million), or 54 Canadian cents per share, from C$162.83 million, or 48 Canadian cents per share, a year earlier.
Analysts had expected the company to report a profit of 55 Canadian cents per share.
Total sales rose 13% to C$1.06 billion.