Making sense of the markets this week: June 12 Jun 10th

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Making sense of the markets this week: June 12

– moneysense.ca

Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, shares financial headlines and offers context for Canadian investors.

Five-Dollarama

In an otherwise quiet North American earnings week, investors looked to the Dollarama (DOL/TSX) earnings call to get the latest information on which way consumer winds were blowing.

It turns out that they’re blowing towards deep-discount dollar stores.

Dollarama announced a blistering 20.9% increase in adjusted earnings for its first quarter, to $300 million. Diluted net earnings per share were up 32.4%. The company also took the opportunity to announce a 9.9% dividend increase. Share prices were up roughly 3% on Wednesday.

When we combine Dollarama’s quarter with the excellent first-quarter earnings announced by Dollar General (DG/NYSE) and Dollar Tree (DLTR/NASDAQ) a few weeks ago, as well as the recent troubles at large retailers like Target, it’s clear that consumers are becoming much more budget-conscious when buying everyday goods during this inflationary period…

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