Business
Dollarama reports strong second quarter results and announces a two-for-one share split
MONTREAL , Sept. 11, 2014 /CNW Telbec/ - Dollarama Inc. (TSX: DOL) ("Dollarama" or the "C...
About this update from Dollarama Inc.
[{"type":"text","content":"\n\nMONTREAL, Sept. 11, 2014 /CNW Telbec/ - Dollarama Inc. (TSX: DOL) (\"Dollarama\" or the \"Corporation\") today reported an increase in sales, net earnings and net earnings per share for the second quarter ended August 3, 2014.\n\nFinancial and Operating Highlights \n\nAll comparative figures below and in the \"Financial Results\" section that follows are for the second quarter ended August 3, 2014 compared to the second quarter ended August 4, 2013.  All financial information presented in this press release has been prepared in accordance with generally accepted accounting principles in Canada (\"GAAP\") as set out in the CPA Canada Handbook – Accounting under Part I which incorporates International Financial Reporting Standards (\"IFRS\") as issued by the International Accounting Standards Board (\"IASB\").  Throughout this press release, EBITDA, total debt and net debt, which are referred to as \"non-GAAP measures\", are used to provide a better understanding of the Corporation's financial results. For a full explanation of the Corporation's use of non-GAAP measures, please refer to footnote 1 of the \"Selected Quarterly Consolidated Financial Information\" section of this press release.\n\nThroughout this press release, all references to \"Fiscal 2014\" are to the Corporation's fiscal year ended February 2, 2014 and to \"Fiscal 2015\" are to the Corporation's fiscal year ending February 1, 2015. \n\nCompared to the Second Quarter of Fiscal 2014\n\n\nSales increased by 12.0 % to $572.6 million; \nComparable store sales(2) grew 4.2%, over and above 6.2% the previous year; \nGross margin(3) was 36.1% of sales compared to 36.6% of sales; \nEBITDA(1) grew 13.5% to $108.6 million, or 19.0% of sales compared to 18.7% of sales; \nOperating income grew 17.5% to $99.2 million, or 17.3% of sales compared to 16.5% of sales; and \nDiluted net earnings per common share increased by 25.6%, from $0.82 to $1.03.\nIn addition, 18 net new stores were opened during the second quarter of Fiscal 2015 compared to 22 net new stores opened during the corresponding period of the previous fiscal year.\n\n\"The progress we are making in our financial results is directly attributable to our continued focus on organic growth in the Canadian market with the opening of 89 net new stores over the past twelve months and our objective of i...