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☆ Dollarama says CFO Towner to step down
▼ + stars: | 2023-07-10 | by ( Reuters Staff | ) www.reuters.com time to read: 1 min

FILE PHOTO: A Dollarama store is pictured in Toronto, Ontario, Canada, June 5, 2018. REUTERS/Carlo Allegri/File Photo(Reuters) - Canadian discount store chain Dollarama said on Monday its chief financial officer, J.P. Towner, would step down in the coming months to pursue another career opportunity. He became Dollarama’s finance head in March 2021, succeeding Michael Ross who stepped down after more than a decade with the company. Prior to taking up the role at Dollarama, Towner was the finance head of construction and engineering firm Pomerleau Inc.Dollarama said while it had started looking for a new finance chief, Towner would remain in the role as the company announces its second-quarter results. The retailer beat sales estimate in its most recent quarter on strong demand for its cheaper groceries and household supplies.

Persons: Carlo Allegri, . Towner, Michael Ross, Towner, Dollarama Organizations: REUTERS, Pomerleau Inc Locations: Toronto , Ontario, Canada, Dollarama

☆ Dollarama beats sales estimates on strong demand for essentials
▼ + stars: | 2023-06-07 | by ( ) www.reuters.com time to read: +1 min

June 7 (Reuters) - Canadian discount store chain Dollarama Inc (DOL.TO) beat market expectations for quarterly sales on Wednesday, benefiting from strong demand for its cheaper groceries and household supplies. The company's U.S. counterpart Dollar Tree Inc (DLTR.O), however, trimmed its annual profit forecast in May, while Dollar General Corp (DG.N) cut its annual profit and sales forecast, both citing slowing demand for discretionary goods. Last month, retail bellwether Walmart Inc (WMT.N) said it saw strong demand for its low-priced groceries and other essentials, and is expecting this trend to continue in the back half of the year. Dollarama on Wednesday reaffirmed its fiscal 2024 same store sales forecast and gross margin at 5.0% to 6.0% and 43.5% to 44.5%, respectively. The company's sales rose to C$1.29 billion ($964 million) in the first quarter, from C$1.07 billion a year earlier, compared with analysts' average estimate of C$1.25 billion, according to IBES data from Refinitiv.

Persons: Dollarama, Juveria Tabassum, Aatrayee Chatterjee, Shailesh Organizations: Inc, Dollar, Corp, Walmart Inc, Thomson Locations: U.S, Refinitiv, Bengaluru

☆ TSX rises to three-week but caution remains on rate outlook
▼ + stars: | 2023-03-29 | by ( Fergal Smith | ) www.reuters.com time to read: +2 min

The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) ended up 180.12 points, or 0.9%, at 19,837.65, its fourth straight day of gains and its highest closing level since March 9. "Discretion is the better part of valor," said Joseph Abramson, co-chief investment officer at Northland Wealth Management, quoting the well-known proverb. Information technology rose 1.5% as bond yields steadied, while both energy and heavily weighted financials advanced 1%. Dollarama Inc (DOL.TO) shares added 2.5% as the company reported a surge in same-store sales. The utilities sector, which includes some renewable energy companies, was up 1.1%.

☆ Energy stocks push TSX higher, Dollarama climbs
▼ + stars: | 2023-03-29 | by ( Johann M Cherian | ) www.reuters.com time to read: +2 min

SummarySummary Companies Enbridge gains on rating upgradeDollarama climbs on quarterly sales beatTSX up 0.8%March 29 (Reuters) - Canada's main stock index extended gains on Wednesday, helped by energy stocks, while discount store chain Dollarama advanced after posting quarterly revenue above estimates. Dollarama Inc (DOL.TO) rose 1.2% and hit a two-month high after the discount store chain also reported a surge in same-store sales. The consumer discretionary sector index (.GSPTTCD), housing the stock, added 0.9%. Archibald added that renewable names like Northland Power (NPI.TO) and Ballard Power Systems (BLDP.TO) would stand to benefit from the credits provided to encourage more investment in green technology. Northland Power (NPI.TO) was down 0.2%, while Ballard Power Systems (BLDP.TO) surged 2.6%.

☆ Dollarama beats sales estimates on strong demand for affordable goods
▼ + stars: | 2023-03-29 | by ( ) www.reuters.com time to read: 1 min

March 29 (Reuters) - Canada's Dollarama Inc (DOL.TO) beat quarterly revenue expectations on Wednesday helped by strong demand for affordable everyday goods and seasonal products such as home decor items during the holiday season. The company's fourth-quarter revenue rose to C$1.47 billion ($1.08 billion), from C$1.22 billion a year earlier, beating expectations of C$1.39 billion, according to Refinitiv IBES data. ($1 = 1.3594 Canadian dollars)Reporting by Anne Florentyna Gnanaraja Sekar in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

☆ Dollarama lifts annual sales forecast on strong demand for cheaper grocery
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: +1 min

Dec 7 (Reuters) - Dollarama Inc (DOL.TO) raised its full-year same-store sales forecast on Wednesday, as the Canadian discount store chain benefited from inflation-weary consumers shopping at its stores in search of cheaper groceries and household supplies. The company's U.S. counterpart Dollar Tree Inc (DLTR.O) raised its annual net sales forecast in November, while Dollar General Corp (DG.N) said last week that its full-year same-store sales would be toward the upper end of its previous estimate. read more read moreDollarama said it now expects comparable store-sales growth between 9.5% and 10.5% for fiscal 2023, up from prior forecast of 6.5%-7.5%. The company also narrowed its forecast range for full-year gross margin to a range of 43.1% to 43.6%, from prior estimate of 42.9% to 43.9%. ($1 = 1.3680 Canadian dollars)Reporting by Deborah Sophia in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

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