07:34 AM EDT, 04/04/2024 (MT Newswires) -- Dollarama ( DLMAF ) on Thursday said fourth quarter diluted net earnings were $323.8 million, or $1.15 per diluted common share. This compares with net earnings of $261.3 million, or $0.91 per diluted common share, last year. The Capital IQ forecast was for $1.05.

The company generated an 11.3% increase in fourth quarter revenue, to $1.64 billion, from $1.47 billion, the year before. The Capital IQ forecast was $1,610.85. It said this increase was driven by growth in the total number of stores over the past 12 months (from 1,486 to 1,551) and comparable store sales growth.

Comparable store sales increased by 8.7%, consisting of a 11.2% increase in the number of transactions and a 2.2% decrease in average transaction size, over and above comparable store sales growth of 15.9% for Q4 2023. The higher comparable store sales is mainly due to higher sales across all product categories, including for consumables.

The board announced a 29.9% hike to the quarterly dividend, from $0.0708 to $0.0920 per common share, payable on May 3.

"IOur strong financial and operational performance demonstrates the enduring strength of our business model and that our compelling value proposition continues to resonate with consumers, including in an uncertain economic context," said Neil Rossy, President and CEO of Dollarama ( DLMAF ).

Dollarama ( DLMAF ) also released its 2025 guidance: New net store openings of between 60 and 70; Comparable store sales of between 3.5% to 4.5%.

"In Fiscal 2024, we met or exceeded our guidance for all our key performance metrics, including higher than expected comparable store sales, translating into a 29% increase in EPS," said Neil Rossy , President and CEO of Dollarama ( DLMAF ).

"Looking ahead to Fiscal 2025, we expect to generate strong comparable store sales growth of between 3.5% to 4.5%, over and above an exceptional two years of double-digit growth."