Dollarama reports Q3 profit up from year ago, announces employee bonus

Dollarama reports Q3 profit up from year ago, announces employee bonus
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MONTREAL — Dollarama Inc. said it will pay a bonus to its employees for their work during the pandemic as it raised its dividend and reported its third-quarter profit rose compared with a year ago.

Full-time employees will receive $300, while part-time workers will receive $200.

The one-time payment comes as the retailer raised its quarterly dividend to 4.7 cents per share, up from 4.4 cents.

Dollarama earned $161.9 million or 52 cents per diluted share for the quarter ended Nov. 1, up from $138.6 million or 44 cents per diluted share in the same quarter last year.

Sales totalled $1.06 billion, up from $947.6 million in the same quarter last year, as shoppers reduced the frequency of store visits, but bought more when they did visit the stores.

Comparable store sales rose 7.1 per cent, as the number of transactions fell 15.2 per cent, but the average transaction size climbed 26.3 per cent.

This report by The Canadian Press was first published Dec. 9, 2020.

Companies in this story: (TSX:DOL)

The Canadian Press

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