Business
Dollarama announces solid first quarter results and renews normal course issuer bid
MONTREAL , June 12, 2013 /CNW Telbec/ - Dollarama Inc. (TSX: DOL) ("Dollarama" or the "Cor...
About this update from Dollarama Inc.
[{"type":"text","content":"\n\n\nMONTREAL, June 12, 2013 /CNW Telbec/ - Dollarama Inc. (TSX: DOL)\n (\"Dollarama\" or the \"Corporation\") today reported an increase in sales\n and an improvement in net earnings for the first quarter ended May 5,\n 2013. The quarter was characterized by strong sales growth and solid\n comparable store sales growth despite difficult weather conditions.\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 May 5, 2013 compared to\n the first quarter ended April 29, 2012.  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 2013\" are to the\n Corporation's fiscal year ended February 3, 2013 and to \"Fiscal 2014\"\n are to the Corporation's fiscal year ending February 2, 2014.\n\n\nCompared to the first quarter of Fiscal 2013\n\n\n\nSales increased by 12.6%;\n\n\nComparable store sales grew 3.7%;\n\n\nEBITDA(1) grew 7.5% to $76.3 million, or 17.0% of sales;\n\n\nOperating income grew 5.0% to $65.0 million, or 14.5% of sales;\n\n\nDiluted net earnings per share increased by 10.7%, from $0.56 to $0.62;\n and\n\n\n\n\n\nIn addition, 85 net new stores were opened over the past 12 months,\n including 21 net new stores opened during the first quarter of\n Fiscal 2014.\n\n\nThe acceleration of net new store openings over the past 12 months to 85\n compared to 54 net new stores during the prior comparable period had a\n temporary cost impact in the first quarter of approximately 0.40% on\n gross margin and of 0.20% on general, administrative and store\n opera...