Dollarama, the Canadian small goods dollar store, is reporting a big increase in revenue this morning, along with its first dividend since going public in 2009. The retailer of low-cost items puts net earnings in its fiscal first quarter ended May 1 at $30.4 million, or 40 cents per share, compared with $22.5 million, or 30 cents per share, in the same year-earlier period. Sales rose 11 per cent. Dollarama says the growth was driven by the opening of 56 new stores in the preceding year and by comparable store sales growth. A news release says: “Our growth plans remain on track. We continue to open stores in markets across Canada, and launched 15 new stores during the quarter. We feel strongly that the market remains underpenetrated and we are confident that we will achieve our store opening target of 50 net new stores during the current fiscal year.” Company report.
