Dollarama Inc. (TSX: DOL) reported its financial results for the second quarter ended August 1st, 2021.
Sep 10, 2021 By MarketDepth
The company said that its sales increased by 1.6% to $1,029.3 million, up from the previous $1,013.6 million in the corresponding period of the prior fiscal year. However, its comparable store sales dropped 5.1% year over year, with the company attributing the drop in sales to the length and timing of the ban on the sale of non-essential products in Ontario. Approximately 40% of Dollarama locations are found in Ontario.
1,381 Global Stores
Despite the pandemic, Dollarama opened 13 new stores, same as in prior year comparable period, bringing its total store count to 1,381, even as general, administrative and store operating expenses decreased by 7.2% to $157.1 million in Fiscal 2022 Q2. Furthermore, net earnings came in at $146.2 million, or $0.48 per diluted common share, in the second quarter of Fiscal 2022, compared to $0.46 per diluted common share, in the second quarter of Fiscal 2021.