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Bullboard - Stock Discussion Forum Dollarama Inc T.DOL

Alternate Symbol(s):  DLMAF

Dollarama Inc. is a Canada-based company, which offers various assortment of general merchandise, consumable products, and seasonal items. The Company conducts its business through its subsidiaries, including Dollarama L.P. and Dollarama International Inc. (Dollarama International). Dollarama L.P. operates the chain of stores in Canada and performs related logistical and administrative support... see more

TSX:DOL - Post Discussion

View:
Post by retiredcf on Oct 20, 2023 9:15am

RBC

October 20, 2023

Dollarama Inc.
Flying in a new DOL-ar counter: DOL announces new CFO

TSX: DOL | CAD 94.02 | Outperform | Price Target CAD 105.00

Sentiment: Neutral

News: DOL announced that Patrick Bui has been appointed CFO effective December 18, 2023, replacing former CFO J.P. Towner who departed after the Q2 earnings release. Mr. Bui is an experienced public company CFO, most recently holding the position of CFO at Transat A.T. Inc. (TSX: TRZ), and previously CFO of Kruger Energy (renewable energy producer). Mr. Bui also has extensive capital markets experience with RBC Capital Markets and Morgan Stanley. We welcome Mr. Bui's appointment and look forward to working with him!

• Neutral to share price: We are pleased and not surprised that DOL has attracted a high quality, well-respected and experienced public company CFO to replace Mr. Towner.

• Strong bench to support Mr. Bui: While Mr. Bui is new to retail and DOL, DOL has a strong finance and treasury team to support Mr. Bui. We also call out DOL's exceptional procurement, logistics, operations and real estate teams.

Reiterating our view of DOL as a core holding, with the business model resonating particularly well with consumers against the backdrop of economic uncertainty, consumer wallet pressure, higher-for-longer interest rates and recessionary outlook.

Q2 results for reference: DOL CN: DOL-lars and sense: Strong H1 results/outlook reinforce constructive view, price target to $105

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