UPDATE 2-Retailer Dollarama's quarterly profit tops estimates
(Updates with market reaction, analyst comment, additional details)
By Solarina Ho
April 9 (Reuters) - Canada's Dollarama Inc reported a higher-than-expected rise in quarterly earnings on Wednesday even though it had warned earlier this year that temporary store closures from an ice storm had hurt results in December.
The Montreal-based discount retailer, whose shares jumped more than 7 percent, also raised its quarterly dividend.
Net income rose nearly 8 percent to C$83 million ($76 million), or C$1.17 per share, in the fourth quarter ended Feb. 2 from C$77.1 million, or C$1.04 per share, a year earlier.
Analysts on average had expected earnings of C$1.10 per share, according to Thomson Reuters I/B/E/S.
Sales increased 4 percent to C$582.3 million, mainly because of the addition of 27 net new stores. The quarter had one fewer week than the year-earlier period.
The analysts' average estimate was C$575.8 million.
BMO Capital Markets analyst Peter Sklar said in a research note that analysts had lowered their estimates following the warning early in the year. Continued...