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Dollarama makes mega dollars

Dollarama Inc. (TSX:DOL) had a big increase in third quarter net earnings in its latest quarter, as well as a jump in revenue from higher sales at established locations and additional stores in its network.

The general merchandiser to the budget conscious said Thursday that net profits in the three months ended Oct. 28 were $51.5 million or 68 cents per diluted share.

That was up from $41.8 million or 55 cents in the comparable year-earlier period.

Dollarama's revenues soared 14.4 per cent to just under $458 million from $400.3 million and included a 6.6 per cent increase in same-store sales at locations open at least a year.

The number of stores in operation rose to 761 from 690 in the year-earlier period

The Canadian Press

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