Dollarama said it now expects comparable store-sales growth of between 10% and 11% for fiscal 2024, compared with between 5% and 6% estimated previously
raised annual sales forecast on Wednesday after topping quarterly sales estimates, as Canadians lapped up the discount retailer’s cheaper offerings in response to higher prices of essentials.
Discount store operators have, as a result, seen steady demand, even as other retailers struggled with softer sales. Off-price retailers in the U.S. such as TJX and Ross Stores have also raised their forecasts after posting strong quarterly results, with demand for cheaper goods gathering steam from bargain-hunting shoppers.
Data from Stifel Canada shows 15 per cent of Dollarama’s products are currently priced above C$4.00, compared with 7 per cent in September 2022.
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