Dollarama is reporting large Q3 profits and comparable-store sales growth, thanks to demand in its latest quarterly financial report.

The discount retailer says it earned $261.1 million for the quarter that ended Oct. 29, up nearly 30% from the $201.6 million profit for the same period a year earlier. Dollarama also posted comparable-store sales growth of 11.1%, as budget-conscious shoppers continued to flock to the discounter as they did in Q2.

Dollarama says the increase in comparable store sales is primarily attributable to “higher sales across all product categories, including continued higher than historical demand for consumables.”

The company also saw transactions rise 10.4%, as well as a hike in average transaction size, up 0.6%. Sales increased by nearly 15% to $1,477.7 million, compared to $1,289.6 million in the corresponding period of the prior fiscal year, driven by both total number of stores and increased comp sales.

In its outlook, the company says it now expects comparable-store sales for its full year to grow to 12%, up from earlier expectations for growth of 10 and 11%.

“Sustained consumer demand for our broad range of affordable everyday products and strong execution in the third quarter of Fiscal 2024 drove double-digit same-store sales growth for a sixth consecutive quarter as well as over 31% earnings per share growth,” Dollarama president and CEO Neil Rossy said.

“Our financial and operational performance year-to-date reflects the strength and relevance of our value proposition and business model in a challenging macroeconomic context.”

As of Oct. 29, 2023, Dollarama has 1,541 stores in Canada, including 16 net new stores opened during the third quarter of Fiscal 2024.