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Dollarama Stock Surges as Canadian Shoppers Seek Discounted Groceries Amid Economic Strain
Dollarama Stock Surges as Canadian Shoppers Seek Discounted Groceries Amid Economic Strain
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Dollarama (TSE:DOL) shares jumped nearly 11% after posting stronger-than-expected earnings, driven by Canadian consumers flocking to the discount retailer for affordable groceries and household essentials. Net sales reached C$1.52 billion, surpassing the C$1.5 billion forecast, while comparable store sales grew 4.9%, well above the 3.4% estimate.
The results underscore growing economic pressure on households, with Dollarama emerging as a key beneficiary of tightened budgets. Earnings per share of C$0.98 further cemented the retailer''s outperformance, reflecting a broader trend of value-seeking behavior in retail markets.
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