Dollarama posts higher sales, profits in Q1

MONTREAL — Dollarama reported sales of $828 million in the first quarter, a 9.5% increase from $756.1 million a year ago. Comparable store sales grew 5.8%, over and above growth of 2.6% in the corresponding period last year. Net earnings increased to $103.5 million, or $0.33 per diluted common share, compared to $101.5 million ($0.31 per diluted common share) in the previous first quarter. The increase was mainly attributed to a 9.5% rise in sales and lower expenses as a percentage of sales, partially offset by a lower gross margin.