Dollarama beats quarterly estimates as consumers seek cheaper goods
(Reuters) -Canada's Dollarama beat quarterly sales and profit estimates on Wednesday, as consumers favored discounted alternatives for household supplies and groceries amid domestic economic uncertainty. Toronto-listed shares of the company rose nearly 9% after CEO Neil Rossy said that the company will continue to hold on its current price "for as long as possible" and adjustments to product prices will be a "last resort." Canadian consumers are relying on cheaper offerings across categories, ranging from pantry staples to cleaning supplies, as they curtail household spending amid economic uncertainties, benefiting dollar store operators like Dollarama.