International Expansion Achievements
Dollarama opened Dollarcity's first store in Mexico and completed the acquisition of Australia's largest discount retailer, adding 5,000 new colleagues.
Strong Same-Store Sales Growth in Canada
Same-store sales in Canada grew by 4.9%, driven by a 3.9% increase in the number of transactions and a 0.9% increase in average transaction size.
Revenue and Earnings Growth
Sales increased by 10.3% to over $1.7 billion, and net earnings increased by 12.5% to $321.5 million, with diluted EPS rising by 13.7% to $1.16.
Gross Margin Improvement
Consolidated Q2 gross margin was 45.5%, up from 45.2% last year, primarily due to lower logistics costs.
Canadian Store Expansion
Opened 27 net new stores in Q2, bringing the total number to 1,665 locations in Canada, with a target of 70 to 80 net new store openings for the fiscal year.