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first_img Twitter 0 Comments Email June 13, 201910:42 AM EDT Filed under News Retail & Marketing Dollarama Inc beat quarterly same-store sales estimates and raised its full-year comparable sales forecast on Thursday as the discount store operator attracted more shoppers.Peter J. Thompson/National Post Share this storyDollarama raises full-year same-store sales forecast after beating estimates Tumblr Pinterest Google+ LinkedIn Recommended For YouMDA Awarded Canadian Government Contract to Deliver Search and Rescue Repeaters for SatellitesSingapore-based company is buying the biggest shipping container terminal in eastern CanadaInagene Diagnostics Inc. Announces New CEOPRECIOUS-Gold drops as bets fade for big Fed rate cut fade; eyes on trade talks’John Wick 3′ dethrones ‘Avengers: Endgame’ with $57 million Dollarama raises full-year same-store sales forecast after beating estimates The Montreal-based retailer has been keeping price hikes to a minimum as it tries to fend off rivals such as Walmart and Dollar Tree Reddit Reuters Canadian discount retailer Dollarama Inc raised its full-year comparable sales forecast on Thursday after posting a stronger-than-expected rise in quarterly revenue as limited price hikes attracted shoppers who also spent more on average.The Montreal-based company has been keeping price increases to a minimum as it tries to fend off rivals such as Walmart Inc’s Canada unit and Dollar Tree Inc.Dollarama, whose products are priced between $1 and $4, has also been trying to cut down checkout time and has been investing to expand its online business.These initiatives helped the company report a 5.8 per cent jump in same-store sales in the first quarter ended May 5, much higher than analysts’ average estimate for a 2.9 per cent rise, according to IBES data from Refinitiv.Average transaction size rose 4.9 per cent, indicating that customers on average were buying more products at Dollarama’s stores. Total number of transactions climbed 0.9 per cent.“Fiscal 2020 is off to a good start for Dollarama, with strong top line growth and comparable store sales, including a notable increase in basket size and traffic,” Chief Executive Officer Neil Rossy said in a statement.Related Stories:Dollarama to buy 50.1 per cent stake in Latin American value retailer DollarcityConagra sales miss estimates; shares dropUPDATE 3-Walgreens beats estimates on prescription drug sales, shares riseDollarama, which offers everything from kitchen ware to clothing accessories, said it now expects full-year same-store sales to grow between 3 per cent and 4 per cent. This compares with its previous forecast of a 2.5 per cent to 3.5 per cent rise.Total sales increased 9.5 per cent to $828 million, above analysts’ average estimate of $813.05 million.Net income rose to $103.5 million, or 33 cents per share, in the three months ended May 5, from $101.5 million, or 31 cents, a year earlier.Analysts on average had expected the company to post a profit of 34 Canadian cents per share. The company’s shares have gained about 30 per cent so far this year, compared with the 13.3 per cent rise for the Toronto Stock Exchange. © Thomson Reuters 2019 Facebook Join the conversation → More Commentlast_img read more