Dollarama Reaches Store Count Milestone
Montreal-based dollar store chain retailer Dollarama reached a milestone at the end of the third quarter of 2015, surpassing 1,000 store locations nationally. The company says that it plans to eventually operate about 1,400 Canadian stores.
Dollarama now operates 1,005 Canadian locations, having opened between 70 and 80 in the year 2015. Sales increased 6.4% during the third quarter ended Nov 1, 2015, up from a 5.9% increase the year prior. New store openings and same store sales increases saw Dollarama grow sales by 13% to $664.5 million, with net income rising to $100.1 million and earnings per share increasing 41.8% to 78 cents, from 55 cents the year prior.