Dollarama lifts annual sales forecast on strong demand for cheaper grocery

(Reuters) – Dollarama Inc raised its full-year same-store sales forecast on Wednesday, as the Canadian discount store chain benefited from inflation-weary consumers shopping at its stores in search of cheaper groceries and household supplies.

The discount store operator said it now expects comparable store-sales growth between 9.5% and 10.5% for fiscal 2023, up from the 6.5% to 7.5% range estimated previously.

(Reporting by Deborah Sophia in Bengaluru; Editing by Sherry Jacob-Phillips)