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Canada  + Cross Border News  + Quebec  | 
Canadian discount retailer Dollarama boosted its store count 5.4% over the past year.

Dollarama Boosts Store Count

Canadian discount retailer Dollarama boosted its store count 5.4% over the past year.

Montreal-based Dollarama’s store total rose to 1,541 from 1,462 between October 2022 and October 2023, the company said Wednesday in a news release accompanying its quarterly earnings report. Dollarama opened 16 net new stores in the third quarter compared to 18 a year earlier.

The store-count increase drove Dollarama’s 14.6% rise in third-quarter sales to $1.48 billion from $1.29 billion in the corresponding period of the previous fiscal year.

The company’s jointly owned Dollarcity chain, which operates discount stores in Latin America, has also seen healthy increase in openings. During its third quarter, Dollarcity opened 22 net new locations compared to 18 a year earlier. Between December 2022 and September 2023, Dollarcity increased its store count 9% to 480 from 440.

Dollarama holds a 50.1% stake in Dollarcity. As of September 2023, Dollarcity had 287 locations in Colombia, 96 in Guatemala, 68 in El Salvador and 29 in Peru.

Photo:  Iryna Tolmachova / Shutterstock.com

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About Monte Stewart

Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate. Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s. In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star. Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.

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