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CORRECTED-UPDATE 1-Dollarama profit beats as sales of higher-priced items rise

Published 2015-09-10, 10:30 a/m
© Reuters. CORRECTED-UPDATE 1-Dollarama profit beats as sales of higher-priced items rise
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(Corrects to remove reference to dividend increase in paragraph
8. The company's dividend was unchanged)
Sept 10 (Reuters) - Canadian discount retailer Dollarama Inc
DOL.TO reported better-than-expected quarterly profit and
sales as customers bought more higher-priced items, boosting its
average revenue per transaction.
The company, which sells items priced up to C$3 ($2.26),
said items priced higher than C$1 accounted for over
three-quarters of its sales in the second quarter, up from
two-thirds a year earlier.
Dollarama said on Thursday that its same-store sales rose
7.9 percent. Average value per transaction increased 6.2 percent
and the number of transactions rose 1.5 percent.
The company's rivals include Dollar Tree Inc DLTR.O , Big
Lots Inc BIG.N and big-box retailers such as Wal-Mart Stores (NYSE:WMT)
Inc WMT.N .
Dollarama's net income jumped to C$95.5 million, or 74
Canadian cents per share, in the quarter ended Aug. 2 from
C$68.9 million, or 51 Canadian cents per share, a year earlier.
ID:nPn5sGj62
Total sales rose 14 percent to C$653.3 million.
Analysts on average had expected a profit of 61 Canadian
cents per share and sales of C$562.9 million, according to
Thomson Reuters I/B/E/S.
The company's shares closed at C$80.21 on the Toronto Stock
Exchange on Wednesday. Up to Wednesday's close, the stock had
risen 35 percent this year.
($1 = C$1.33)

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