Aug 27 (Reuters) - Dollarama's ( DLMAF ) quarterly sales
jumped, edging past market estimates, on Wednesday, as shoppers
looking for affordable household supplies and groceries drove
demand at the Canadian discount retailer.
Concerns over still-high inflation and rising cost-of-living
have prompted Canadian customers to increasingly turn to cheaper
and discounted alternatives for everyday essentials, ranging
from pantry staples to cleaning supplies, driving strong sales
at dollar-store chains such as Dollarama ( DLMAF ).
Off-price and discount retailers in North America such as
Ross Stores ( ROST ) and TJX Companies ( TJX ) have also seen
strong demand in recent quarters as consumers seek
value-for-money products in an economy strained by growth
concerns and trade tariffs.
Dollarama's ( DLMAF ) comparable sales grew 4.9% during the second
quarter, while analysts on average estimated a 4.2% rise,
according to data compiled by LSEG.
The company's net sales increased 10.3% to C$1.72 billion
($1.24 billion) during the three months ended August 3, compared
with the estimate of C$1.71 billion.
Its adjusted net earnings per share of C$1.16 was in line
with expectations.
($1 = 1.3817 Canadian dollars)