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Industry NewsDollarama beats sales expectations, announces pandemic pay

Dollarama beats sales expectations, announces pandemic pay


Dollarama reported higher than expected sales for its third quarter fiscal 2021 and announced a pandemic bonus pay for store staff, joining retailers such as Empire Company and Walmart Canada who have done the same.

Sales in the third quarter increased 12.3 per cent to $1.06 billion while comparable sales grew 7.1 per cent

“We are very pleased with our strong performance in the third quarter of fiscal 2021, highlighted by a double-digit increase in sales, robust same-store sales growth and an industry-leading gross margin. Our strong financial and operating results reflect the relevance of our compelling and affordable everyday products, the convenience we offer Canadian consumers from coast to coast, and our disciplined execution in maintaining well-stocked stores,” states Neil Rossy, president and CEO. 

Dollarama says it will pay a one-time bonus of $200 for part time staff and $300 for full time employees.

Dollarama opened 19 new stores in the quarter that ended November 1.

Rossy says seasonal including cleaning supplies, household items and health and beauty products sold well, while sales of party supplies and greeting cards were down.

Despite having more of its stores open during the quarter than in the summer, Dollarama said it was still seeing foot traffic from customers, but larger basket sizes. The average transaction size increased 26.3 per cent while the number of transactions decreased 15.2 per cent.

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