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Industry NewsDollarama raises annual sales forecast on strong demand for discount

Dollarama raises annual sales forecast on strong demand for discount

Dollarama raised its annual sales forecast for fiscal 2024 by 11 to 12 per cent, up from the estimated 10 to 11 per cent range, encouraged by strong sales performance in its third quarter.

Comparable store sales increased 11.1 per cent in the quarter compared to 10.8 per cent over the previous year, and sales grew 14.6 per cent to $1,477.7 million.

“Sustained consumer demand for our broad range of affordable everyday products and strong execution in the third quarter of Fiscal 2024 drove double-digit same store sales growth for a sixth consecutive quarter as well as over 31% earnings per share growth. Our financial and operational performance year-to-date reflects the strength and relevance of our value proposition and business model in a challenging macro-economic context,” said Neil Rossy, president and CEO.

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