UPDATE 1-Dollarama tops quarterly estimates on steady demand for low-priced essentials
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June 11 (Reuters) - Canada's Dollarama DOL.TO beat quarterly sales and profit estimates on Thursday, as cost-conscious shoppers continued to flock to the discount retailer for low-priced essentials.
Dollar-store chains are seeing strong demand as sticky inflation pushes shoppers to hunt for cheaper alternatives to everyday goods, from pantry staples to cleaning supplies.
The company posted net sales of C$1.85 billion ($1.32 billion) for the first quarter, compared with analysts' average estimate of C$1.82 billion, according to data compiled by LSEG.
It reported quarterly profit of C$1.11 per share, compared to expectation of 99 Canadian cents per share.
($1 = 1.3981 Canadian dollars)