Dollar Store Wars Heat Up as Canadian Retail Polarizes
The Canadian retail market continues to polarize. Montreal-based dollar store retailer Dollaramahas significantly increased its anticipated maximum number of Canadian stores, and competitorDollar Tree is looking to increase its current store count five-fold. Family Dollar is also eyeing Canada, creating competition at the low-end which mirrors the potential bloodbath at the top end, as luxury retailers also battle to gain Canadian market share.
In March of 2014, Dollarama CFO Michael Ross said that the then 800-store retailer would expand by about 50%, eventually operating about 1,200 Canadian locations. This was based on a growth number of about 85 stores in 2014, and a further 70 to 80 locations in 2015. According to CTV, Dollarama’s Canadian store count recently sat at 972, with its 1,000th Canadian location set to open this fall. Remarkably, Dollarama now expects that it will eventually operate about 1,400 Canadian locations within the next several years. Read the rest of the article through our friends @Retail-Insider