Business
Dollarama reports continued strong growth for its second quarter
MONTREAL, Sept. 14, 2011 /CNW Telbec/ - Dollarama Inc. (TSX: DOL) ("Dollarama" or the "Corpor...
About this update from Dollarama Inc.
[{"type":"text","content":"\n\n\n\n\n\nMONTREAL, Sept. 14, 2011 /CNW Telbec/ - Dollarama Inc. (TSX: DOL)\n (\"Dollarama\" or the \"Corporation\") reported significant increases in\n sales and net earnings today for the second quarter ended July 31,\n 2011.\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 second quarter and the first half ended\n July 31, 2011 compared to the second quarter and first half ended\n August 1, 2010.  All financial information presented in this news\n release has been prepared in accordance with generally accepted\n accounting principles (\"GAAP\") in Canada which were revised to\n incorporate International Financial Reporting Standards (\"IFRS\") as\n issued by the International Accounting Standards Board and became\n effective for years beginning on or after January 1, 2011. \n Accordingly, the Corporation commenced reporting on this basis in its\n unaudited condensed interim consolidated financial statements for the\n first quarter ended May 1, 2011, and all figures relating to the second\n quarter and first half ended August 1, 2010 have been restated to\n reflect the Corporation's adoption of IFRS.  As a result of the\n adoption of IFRS, there were no material changes required to the\n Corporation's statement of comprehensive income.  At the transition\n date, a one-time adjustment was required to recognize an additional\n deferred tax liability of $7.0 million through retained earnings in the\n statement of financial position. Throughout this news release, EBITDA\n and Normalized net earnings, collectively referred to as the \"Non-GAAP\n Measures\", are 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 Measures, please refer to footnote 1\n of the Selected Consolidated Financial Information section of this news\n release.)\n\n\nCompared to the second quarter ended August 1, 2010:\n\n\nSecond quarter sales increased by 12.8%;\n\n\nComparable store sales grew 4.7%;\n\n\nGross margin improved to 36.7% of sales from 35.3% of sales;\n\n\nEBITDA(1) grew 24.8% to $67.5 million, or 17.4% of sales;\n\n\nOperating income grew 26.2% to $59.4 million...