Dollarama Earnings: Canadian Strength Masks Australian Underperformance; Shares Overvalued

Dollarama's first-quarter results included 21.4% sales growth, driven by a 5.6% rise in same-store sales. EBITDA margin, however, contracted 100 basis points to 31.6% due to Australia's (10% of sales) mix headwinds and elevated operating expenses as the business transitions to Dollarama's sourcing.