Dollarama sales grow modestly in Q1

MONTREAL — Dollarama reported that Q1 sales grew by two percent to $844.8 million, compared to $828 million in the corresponding period last year. The increase was attributed to the growth in the total number of stores over the past 12 months and to a modest comparable store sales growth in open stores, partially offset by a drop in store traffic and demand for some products. Comparable store sales, excluding temporarily closed stores, rose 0.7 percent in the quarter. Net earnings fell to $86.1 million, or $0.28 per share, from $103.5 million ($0.33 per share) a year ago, as the pandemic took its toll on sales.