Dollarama announces strong third quarter results

About this update from Dollarama Inc.

[{"type":"text","content":"\n\n\nMONTREAL, Dec. 5, 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 third quarter ended November\n 3, 2013. The quarter was characterized by continued growth in the store\n network and solid comparable store sales growth.\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 third quarter ended November 3, 2013 compared\n to the third quarter ended October 28, 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, total debt and net debt, which\n are referred to as \"non-GAAP measures\", are used to provide a better\n understanding of the Corporation's financial results. For a full\n explanation of the Corporation's use of non-GAAP measures, please refer\n to footnote 1 of the \"Selected Consolidated Financial Information\"\n section of this 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 third quarter of Fiscal 2013\n\n\n\nSales increased by 14.2% to $522.9 million;\n\n\nComparable store sales grew 4.8%;\n\n\nGross margin stood at 37.1% of sales, compared to 37.2% of sales;\n\n\nEBITDA(1) grew 19.4% to $99.8 million, or 19.1% of sales;\n\n\nOperating income grew 18.9% to $87.5 million, or 16.7% of sales; and\n\n\nDiluted net earnings per share increased by 27.9%, from $0.68 to $0.87.\n\n\n\nIn addition, 86 net new stores were opened over the past 12 months,\n including 19 net new stores opened during the third quarter of\n Fiscal 2014.\n\n\n\"We are very satisfied with our continued growth in comparable store\n sales in the third quarter. The consistent growth and strength of our\n operating results are a testimony to t...

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