Dollarama (TSX: T.DOL, Stock Forum) Wednesday posted a first-quarter profit that surged 40% to $42.6 million, or 56 cents a share, compared with $30.4 million, or 40 cents a share, during the same period last year.
Revenue rose 15% to $398 million from $346.3 million. Analysts expected 50 cents a share of earnings on revenue of $390 million, according to figures compiled by Thomson Reuters.
The Montreal-based discount retailer added it would be introducing items at $2.50 and $3.00 starting in August 2012, as 51% of its recent sales were from items costing more than a dollar, up from 44% a year earlier.