Dollarama in the money during Q2

Montreal - Dollarama Inc. is reporting a significant increase net earnings and sales for the second quarter of fiscal 2016.



Gross margin improvements and a reduction in selling, general and administrative (SG&A) expenses as a percentage of sales drove net earnings to $95.5 million, up 39% from $68.9 million.



Sales increased by 14% to $653.3 million, compared to $572.6 million. The addition of 17 new stores and a same-store sales increase of 7.9%. The company remains on track to add 70-80 net new stores by the end of the fiscal year.



"The momentum experienced in the first quarter more than carried over into the second, resulting in an exceptional performance across the first half of fiscal 2016,” said Larry Rossy, chairman and CEO. “The careful execution of our merchandising strategy and the implementation of operational improvements have made us stronger as we grow. We continue to reach new customers in an efficient manner, all while providing a consistent shopping experience in all of our stores.”