Retailer Dollarama reports third-quarter profit and sales up from year ago

Retail earnings: HBC same-store sales fall; Dollarama profit surges Hudson's Bay posted a wider-than-expected loss in the third quarter, with same-store sales falling more than three per cent. Meanwhile, Dollarama surged past estimates with a 25-per-cent jump in profits. BNN's Jameson Berkow and Jon Erlichman break down the results.

MONTREAL -- Dollarama Inc. says it earned $130.1 million in its third quarter, up from $110.1 million in the same quarter last year, boosted by higher sales.

The company (TSX:DOL) says the profit amounted to $1.15 per diluted share, up from 92 cents per diluted share a year ago when the company had more shares outstanding.

Analysts on average had expected a profit of $1.11 per share, according to Thomson Reuters.

Sales in the 13 weeks ended Oct. 29 totalled $810.6 million, up from $738.7 million.

Comparable store sales grew 4.6 per cent as the average transaction size grew 4.5 per cent and the retailer saw a 0.1 per cent increase in the number of transactions.

Dollarama had 1,135 stores at the end of the quarter, up from 1,069 stores a year ago.