(RTTNews) - Canadian value retailer Dollarama, Inc. (DOL.TO) reported Wednesday that net earnings for the first quarter of fiscal 2025 increased to $215.8 million or $0.77 per share from $179.9 million or $0.63 per share in the prior-year quarter.
On average, nine analysts polled by Thomson Reuters expected the company to report earnings of $0.76 per share for the quarter. Analysts' estimates typically exclude special items.
Sales for the quarter increased 8.6 percent to 1.41 billion from $1.29 billion in the same quarter last year. Comparable store sales growth was 5.6 percent. Analysts expected revenues of $1.41 billion for the quarter.
Looking ahead to fiscal 2025, the company expects comparable store sales growth of 3.5 to 4.5 percent.
Dollarama also announced that it has acquired an additional 10.0 percent equity interest in Latin American value retailer Dollarcity, increasing its total equity interest to 60.1 percent, and that it has expanded its partnership countries to include Mexico.
Long-term store target for Dollarcity increased from 850 stores by 2029 to 1,050 by 2031 in current four markets of operation.
Further, the Corporation announced that its board of directors approved a quarterly cash dividend for holders of common shares of $0.0920 per common share, payable on August 2, 2024 to shareholders of record at the close of business on July 5, 2024.
