Dollarama (TSX:DOL, StockForum), a Montreal Quebec-based dollar store operator, provided results from its Q4 and year-end 2014 ending February 2, 2014 with a 14% dividend increase despite difficult weather conditions during the peak holiday season.
According to the news release, the company's comparable store sales grew 1.1% during the quarter with year-end comparable store sales increasing 3.8%.
Sales during the quarter bumped 3.6% to $582.3 million with a gross margin of 38.4% combined with a EBITDA growth of 9.7% to $130.7 million. Operating income also jumped 8.6% to $117.6 million with diluted earnings per share increasing 12.5% from $1.04 to $1.17 per share.
During Q4 2014, the company also opened 27 new stores for a grand total of 89 net new stores opened since February 3, 2013.
Yearly sales grew 11.1% to $2.06 billion with a year-end gross margin of 37.1% and an increase in operating income for the year of 12.2% to $354.5 million.
Dollarama was in the news recently when the company amended its normal course issuer bid at the end of January.
Shares rose 6.88% on the news to $91.68 per share.
Currently there are 68.2m outstanding shares with a market cap of $6.2 billion.