(Reuters) - Canadian discount retailer Dollarama Inc's
The Montreal-based company, whose products are priced between C$1 and C$4, has been trying to fend off competition from the likes of Walmart Inc's
"Customers are responding positively to our compelling product offering and various merchandising tactics, as demonstrated by our strong top line performance for a second consecutive quarter," Chief Executive Officer Neil Rossy said.
Dollarama, which offers everything from kitchen ware to clothing accessories, now expects full-year comparable-store sales growth in the range of 3.5% to 4.5% compared with the previous range of 3% to 4%.
The company's net income rose to C$143.2 million ($108.61 million), or 45 Canadian cents per share, in the second quarter, from C$140.4 million, or 42 Canadian cents, a year earlier.
Analysts on average had expected the company to post a profit of 46 Canadian cents per share, according to IBES data from Refinitiv.
Comparable-store sales rose 4.7% in the quarter ended Aug 4.
Sales rose to C$946.4 million from C$868.5 million.
(Reporting by Arunima Kumar in Bengaluru; Editing by Shinjini Ganguli)