June 11 (Reuters) - Canada's Dollarama ( DLMAF ) beat
quarterly sales and profit estimates on Wednesday, as consumers
favored discounted alternatives for household supplies and
groceries amid domestic economic uncertainty.
Consumers are increasingly relying on cheaper offerings
across categories, ranging from pantry staples to cleaning
supplies, as they curtail household spending amid economic
uncertainties, benefiting dollar store operators like Dollarama ( DLMAF ).
The company reported comparable store sales of 4.9%, above
estimates of 3.4% in the quarter ended May 4, according to data
compiled by LSEG.
Dollarama ( DLMAF ) posted net sales of C$1.52 billion ($1.11
billion)for the first quarter, compared with analysts' estimates
of C$1.5 billion.
The company posted net earnings per share of 98 Canadian
cents per share, compared with 77 Canadian cents, a year ago.
Analysts on average expected a profit of 84 Canadian cents per
share.
Dollarama ( DLMAF ) also reaffirmed its annual comparable sales
expectations of a 3% to 4% rise.
($1 = 1.3682 Canadian dollars)