(Montreal) Dollarama, with increased results in the third quarter, is improving its long-term targets for its presence in Canada. The Montreal company now wants its Canadian network to have 2,200 stores by 2034.
Posted at 8:16 a.m.
The low-cost retailer has thus revised upwards its previous target for its expansion in the country, which was to have 2,000 stores by 2031. Dollarama currently has 1,601 locations, or 60 more than at the same date. last year.
The company made the announcement as it reported improved results for the third quarter, which ended October 29. Its net profit notably increased by 5.6% over one year, to stand at 275.8 million.
Its sales saw an annual increase of 5.7%, reaching 1.56 billion. Same-store sales increased 3.3%, representing a 5.1% increase in the number of transactions and a 1.7% decrease in the average transaction amount.
According to Dollarama President and CEO Neil Rossy, the company is particularly proud of “solid same-store sales growth amid continued normalization and cautious consumer spending.”
In addition, Dollarama has entered into an agreement to acquire land in the Calgary region, where its intention is to build a warehouse and a distribution center to serve its stores in Western Canada.
The purchase of the land cost 46.7 million. Commissioning of the facility is planned by the end of 2027.
Canada
