Dollarama to sell products priced up to $5 to shore up margins
Author of the article:Reuters
Reuters
Publishing date:Mar 30, 2022 • 21 hours ago • 1 minute read • 6 Comments
Canadian discount retailer Dollarama Inc said on Wednesday it would roll out additional price points up to $5 this year, as the company looks to shield its margins from rising supply chain and raw material costs.
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The Montreal-based company posted an 11% rise in fourth-quarter sales, in line with analysts’ average estimate, despite a fresh round of COVID-related restrictions hampering footfalls at its stores over the holiday season.
Canadian provinces, including the most populous Ontario, a key market for Dollarama, reimposed limits on businesses and gatherings in January as cases began surging due to the Omicron variant, fearing their health-care systems would get swamped.
Sales rose to $1.22 billion in the quarter ended Jan. 30 from $1.10 billion a year earlier.
The company’s net income rose to $220 million, or 74 cents per share, from $173.9 million, or 56 cents per share, a year earlier.
Author of the article:Reuters
Reuters
Publishing date:Mar 30, 2022 • 21 hours ago • 1 minute read • 6 Comments
Canadian discount retailer Dollarama Inc said on Wednesday it would roll out additional price points up to $5 this year, as the company looks to shield its margins from rising supply chain and raw material costs.
Advertisement 2
STORY CONTINUES BELOW
Article content
The Montreal-based company posted an 11% rise in fourth-quarter sales, in line with analysts’ average estimate, despite a fresh round of COVID-related restrictions hampering footfalls at its stores over the holiday season.
Canadian provinces, including the most populous Ontario, a key market for Dollarama, reimposed limits on businesses and gatherings in January as cases began surging due to the Omicron variant, fearing their health-care systems would get swamped.
Sales rose to $1.22 billion in the quarter ended Jan. 30 from $1.10 billion a year earlier.
The company’s net income rose to $220 million, or 74 cents per share, from $173.9 million, or 56 cents per share, a year earlier.
Dollarama to sell products priced up to $5 to shore up margins
Canadian discount retailer Dollarama Inc said on Wednesday it would roll out additional price points up to $5 this year, as the company looks to shield its…
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