Product Ban Affects Dollarama Sales

Dollarama Inc. had sales of $1.03 billion for the second quarter of its 2022 fiscal year, an increase of 1.6 per cent over sales of $1.01 billion in the second quarter of its 2021 year. Comparable store sales decreased by 5.1 per cent driven by the ban on the sale of non-essential products in Ontario in place for the first 5.5 weeks of the quarter. For the 7.5 weeks following the lifting of the ban in Ontario, comparable sales increase 5.1 per cent year-over-year. Gross margin for the quarter was 43.4 per cent of sales compared to 43.9 per cent of sales in the year-ago period. Earnings before taxes increased by 5.7 per cent to $293.7 million, or 28.5 per cent of sales, compared to 27.4 per cent of sales last year. Net earnings were $146.2 million compared to $142.5 million last year.