dollarama inc on wednesday reported a nearly 15 rise in profit and higher revenue in the third quarter of fiscal 2023 as high inflation continues to drive consumers to look for cheaper alternatives to consumable products for the three months ended oct 30 the canadian dollar store retail chain reported net profit of 2016 million canadian dollars us1477 million or c070 compared with the prioryear period when it reported net profit of c1834 million or c061 a share the quarters earnings met analysts forecasts according to factset sales rose in the period to c129 billion from c112 billion a nearly 15 increase analysts polled on factset expected a more modest rise to c123 billion dollarama credits the growth to the new stores it has been adding over the past 12 months which have reached 1462 by the end of the quarter compared with 1397 a year earlier in this quarter alone the company added 18 net new stores meanwhile comparable store sales were also higher in the period rising by about 11 and dollarama said that the majority of this increase was related to an increase in the number of transactions as inflationary pressure on the consumer persists we expect strong demand for consumable products to continue stimulating topline growth through to the end of the fiscal year president and chief executive neil rossy said