financetom
Business
financetom
/
Business
/
Dollarama's third-quarter profit, sales rise on demand for discounted products
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Dollarama's third-quarter profit, sales rise on demand for discounted products
Dec 4, 2024 5:02 AM

Dec 4 (Reuters) - Canada's Dollarama ( DLMAF ) posted a

rise in third-quarter sales and profit on Wednesday, as it drew

more price-conscious consumers to its discounted non-essentials

such as household supplies and grocery.

Customers, taxed with the burden of still-high rent and

prices of food, are on the look-out for better deals and cheaper

alternatives for their day-to-day supplies, and have been wooed

in by the discounted offerings of stores.

Retailers including Dollarama ( DLMAF ) have been churning out

themed sales on products ranging from decorations, toys to

candies this holiday shopping season as they are locked in a

battle for attracting penny-pinching shoppers.

The dollar store also reiterated its annual comparable

store sales forecast.

Dollarama's ( DLMAF ) net sales rose 5.7% to C$1.56 billion ($1.11

billion) in the quarter ended Oct. 7, while net earnings per

share rose 6.5% to 98 Canadian cents per share.

The company's net sales and net earnings per share for

the quarter was in line with analysts' estimates, according to

data compiled by LSEG.

The company's quarterly gross margin was 44.7% of sales,

down from 45.4% a year ago, on rising logistics and freight

costs.

Fellow Canadian supermarket retailer Loblaw Companies ( LBLCF )

had missed third-quarter revenue estimates, hurt by a slowdown

in demand for its non-essential goods.

($1 = 1.4056 Canadian dollars)

(Reporting by Neil J Kanatt in Bengaluru)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Vale Q3 Earnings, Revenue Decline
Vale Q3 Earnings, Revenue Decline
Nov 3, 2024
06:38 AM EDT, 10/25/2024 (MT Newswires) -- Vale (VALE) reported Q3 earnings Thursday of $0.56 per diluted share, down from $0.66 a year earlier. A single analyst polled by Capital IQ expected $0.44. Net operating revenue for the quarter ended Sept. 30 was $9.55 billion, down from $10.62 billion a year earlier. Analysts surveyed by Capital IQ expected $9.51 billion....
Aon's Q3 Adjusted Earnings, Revenue Rise
Aon's Q3 Adjusted Earnings, Revenue Rise
Nov 3, 2024
06:20 AM EDT, 10/25/2024 (MT Newswires) -- Aon (AON) reported Q3 adjusted earnings Friday of $2.72 per diluted share, up from $2.32 a year earlier. Analysts surveyed by Capital IQ expected $2.47. Total revenue for the quarter ended Sept. 30 was $3.72 billion, up from $2.95 billion a year earlier. Analysts surveyed by Capital IQ expected $3.69 billion. Price: 360.00,...
Capri's Proposed $8.5 Billion Acquisition by Tapestry Blocked by Federal Court
Capri's Proposed $8.5 Billion Acquisition by Tapestry Blocked by Federal Court
Nov 3, 2024
06:31 AM EDT, 10/25/2024 (MT Newswires) -- Capri (CPRI) shares plunged early Friday following a court ruling that temporarily blocked the luxury fashion company's proposed acquisition by Coach and Kate Spade owner Tapestry (TPR). The US District Court for the Southern District of New York on Thursday approved the Federal Trade Commission's motion for a preliminary injunction against the deal...
Former Abercrombie CEO Jeffries to enter plea in sex trafficking case
Former Abercrombie CEO Jeffries to enter plea in sex trafficking case
Nov 3, 2024
(Reuters) - Mike Jeffries, the former longtime chief executive of Abercrombie & Fitch, will be arraigned on Friday after being charged with running an international sex trafficking and prostitution scheme while leading the clothing retailer. Jeffries, 80, who led Abercrombie from 1992 to 2014, is expected to enter his plea to 16 criminal charges before a federal judge in Central...
Copyright 2023-2026 - www.financetom.com All Rights Reserved