Dollar-store chain Dollarama's Dec same-store sales fall

Fri Jan 17, 2014 8:28am EST
 
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(Reuters) - Dollarama Inc (DOL.TO: Quote), a Canadian dollar-store operator, said December sales were hurt by power outages and temporary store closures as a cold snap hit most of North America.

Comparable-store sales fell 7.5 percent in December, the company said in a statement.

The Montreal-based company said it had to temporarily close about 80 stores.

A major ice storm blanketed Central and Atlantic Canada during the Christmas season, leading to massive power outages in Ontario, Quebec and New Brunswick for one week. A majority of Dollarama's stores are located in these regions.

Dollarama, which operates 847 stores across Canada, said it expects January sales to trend back to normal.

(Reporting By Sneha Banerjee in Bangalore; Editing by Saumyadeb Chakrabarty)