Business
Dollarama announces first quarter results and launches normal course issuer bid
MONTREAL, June 13, 2012 /CNW Telbec/ - Dollarama Inc. (TSX: DOL) ("Dollarama" or the "Corpo...
About this update from Dollarama Inc.
[{"type":"text","content":"\n\n\n\n\n\nMONTREAL, June 13, 2012 /CNW Telbec/ - Dollarama Inc. (TSX: DOL)\n (\"Dollarama\" or the \"Corporation\") today reported continued increases\n in sales and an improvement in net earnings for the first quarter ended\n April 29, 2012.\n\n\nFinancial and Operating Highlights \n\n\n(All comparative figures below and in the \"Financial Results\" section\n that follows, are for the first quarter ended April 29, 2012 compared\n to the first quarter ended May 1, 2011.  All financial information\n presented in this news release has been prepared in accordance with\n generally accepted accounting principles in Canada (\"GAAP\") as set out\n in the Handbook of the Canadian Institute of Chartered Accountants -\n Part 1 which incorporates International Financial Reporting Standards\n (\"IFRS\") as issued by the International Accounting Standards Board. \n Throughout this news release, EBITDA, which is referred to as the\n \"Non-GAAP Measure\", is used to provide a better understanding of the\n Corporation's financial results. For a full explanation of the\n Corporation's use of the Non-GAAP Measure, please refer to footnote 1\n of the \"Selected Consolidated Financial Information\" section of this\n news release.)\n\n\nThroughout this news release, all references to \"Fiscal 2012\" are to the\n Corporation's fiscal year ended January 29, 2012 and to \"Fiscal 2013\"\n are to the Corporation's fiscal year ending February 3, 2013.\n\n\nCompared to the first quarter of Fiscal 2012:\n\n\nSales increased by 14.9%;\n\n\nComparable store sales grew 8.1%;\n\n\nEBITDA(1) grew 27.8% to $70.9 million, or 17.8% of sales;\n\n\nOperating income grew 29.9% to $61.9 million, or 15.6% of sales;\n\n\nDiluted net earnings per share increased by 40.0%, from $0.40 to $0.56;\n and\n\n\n17 net new stores were opened during the first quarter of Fiscal 2013.\n\n\n\"We are very pleased with our first quarter financial and operating\n results. Our business momentum remains strong as sales, operating\n margins and earnings continued to improve as our customers continue to\n appreciate our great merchandise value and conveniently located\n stores\", stated Larry Rossy, Chairman and Chief Executive Officer of\n Dollarama. \n\n\nFinancial Results\n\n\nSales for the first quarter of Fiscal 2013 increased by 14.9% to\n $398.0 million...