Canadian businessman and third-generation retailer Larry Rossy launched Dollarama. It all began in 1992 with a single store in Matane, Quebec, and expanded fast over the following 20 years to become a well-known brand and a popular shopping destination for Canadians from coast to coast.
With well over 1,000 sites, Dollarama is a renowned Canadian value store today. Neil Rossy, a fourth-generation retailer and member of Dollarama’s founding management team, is the company’s current leader.
Offering a wide range of general commodities, consumables, and seasonal items, Dollarama strives to offer customers a consistent shopping experience and enticing value. All of the stores are corporately owned and run, and they are all in prime locations in big cities, medium-sized cities, and small towns. Productsare offered individually or in groups at specified, affordable pricing ranges.
Dollarama’s profits increased by 27% as the demand for discounts from consumers grew.
The rise in prices has contributed to Dollarama’s thriving business, as the discount retailer’s sales have risen by over 17% over the previous year.
The Montreal-based retailer revealed its quarterly results on Wednesday, and the figures highlight how strongly shoppers’ desire for deals.
The chain’s sales increased by 16.7% to $5.05 billion in its most recent fiscal year, which ended on January 29. The increase in net income per share from $2.18 in 2017 to $2.76 in 2022. A crucial indicator for retailers, same-store sales, rose by 12%.
The company’s quarterly dividend to shareholders will increase by 28% starting next month, from $0.0553 to $0.0708. This is due to the company’s increased quarterly profitability.
The chain declared Plans to increase some item prices by up to $5 were announced around this time last year, but Dollarama’s financial performance doesn’t appear to be the result of customers making more frequent purchases.
During the fourth quarter, the number of transactions exploded by more than 14% while the average transaction size only increased by 1.6%. That is an indicator that the business had more patrons enter, whether they were regulars or newcomers.
Dollarama set to introduce $5 maximum price – CTV News
MANITOBA – As it adds new products and restocks existing ones in response to a change in consumer spending habits, discount retailer Dollarama Inc. has begun introducing new price points up to $5.
The firm announced Wednesday that the dollar store will now include items priced between one dollar and five dollars.
As pandemic limitations were relaxed and buyers became more active in their search for deals as they continued to deal with skyrocketing inflation, the company reported better sales and earnings for the quarter that ended on May 1.
12 items you should never miss at Dollarama
We all know that the dollar shop may provide some inexpensive great buys that are well worth the money, while there are undoubtedly some items you should avoid purchasing there (such as canned meat). Knowing what to buy and what to avoid isn’t always obvious, so we did some research to find out which products would be a waste of money if you bought them elsewhere. Here are 12 items that you must always buy at Dollarama.
1. Party Equipment
A fantastic site to get party supplies is Dollarama; they have a large assortment of streamers, confetti, balloons, and other items. Spending more than necessary doesn’t make sense because everything will be discarded the next day.
Purchasing party supplies is a great opportunity to get cheap gift bags and wrapping paper.
2. Christmas Cards
There are so many occasions for which you purchase cards, like birthdays, holidays, weddings, etc. Unfortunately, the card is almost always thrown out. There is no justification for paying $5 for a greeting card when you can get one at a dollar store. In any case, the inner message is what matters most.
3. Cleaning products for the home
If you do You pay more when you go to grocery stores for cleaning supplies. In addition to selling brand-name dish soap for less at Dollarama, they also have a house brand that costs just $1 and performs just as well. The same is true for cleaning supplies like all-purpose cleaner and window cleaner.
Pro tip: Purchase your hand towels and dishrags here as well; you’ll need them to clean up a mess anyhow.
4. Holiday ornaments
One of the greatest sites to buy holiday decorations is Dollarama, which has already started the holiday season. Spending money on pricey ornaments that are kept in storage for the majority of the year is a waste. Why not decorate your entire home for less if you’re going to do that?
Avoid using holiday lights since they have a bad reputation for safety at bargain retailers.
5. Dollarama Candy & Chocolate
Just so you know, the brand-name candy at Dollarama is not fake. They will undoubtedly be offering chocolate bars and Lays chips for less if you have a sweet tooth.
Pro tip: Dollarama also has brand-name cereal for less money.
6. Containers for storing food
Food storage can be quite expensive, but since they serve their intended purpose, why spend more than $5 at the grocery store? Save some money the next time you need new ones because most stores normally carry a large range of food storage.
Pro tip: Before purchasing your containers, make sure the lids open and seal properly.
7. Simple Beauty Supplies
Don’t squander money on unnecessary goods like cotton swabs, cotton balls, hair elastics, bobby pins, hair brushes, and nail files because beauty supplies may quickly add up. Brand-name cosmetics are occasionally left over at Dollarama; we’ve spotted CoverGirl’s LashBlast Luxe Mascara for under $3!
Check for expiration dates and properly sealed packaging when purchasing cosmetics.
Always purchase notebooks from the dollar store. You can buy them in a variety of sizes and colours, and they are significantly less expensive than what most stores charge. If you’re making a to-do list, mini-notebooks are simple to tuck into your backpack or pocket.
Pro tip: You can also find several colouring books for less money than you would typically find.
Organise your mess using containers that can be tucked hidden in a drawer, closet or beneath a bed. You can purchase as much as you want at Dollarama due to its affordable costs. These bins are ideal for storing anything you need, including clothing, toys, and creative supplies.
Vases and decorative bowls 10.
Find fantastic bargains on bowls, mason jars, glass vases, terrarium containers, and many other items. They can also be embellished and given as gifts to your loved ones and friends. It has everything you need to start decorating in one place.
10. Photo frames
Cheap frames can easily match the quality of more costly ones in terms of appearance. If you’re creative, some paint or a modest decorative addition can Picture frames have a premium appearance.
Pro Tip: Check the joints to ensure that they are stable and search for any additional glue that can be challenging to remove.
Stocking up on spices at the supermarket may get pricey, but at Dollarama, you can spice up your life just right for less.
Pro tip: Dollarama is where you can find Himalayan pink salt if you’re looking for it!
Who is Dollarama’s owner?
Each dollar Larry Rossy earned helped him build his fortune. In 1973, Rossy took over his father’s 20-store discount chain, which he later rebranded as Dollarama.
Who is CEO of Dollarama?
Neil Rossy, who was appointed CEO of Dollarama in May 2016, has been in that position for 7.08 years. His overall yearly pay is CA$10.63M, which is made up of 87.6% bonuses, including stock and options from the corporation, and 12.4% salary. 0.7% of the company’s shares, worth $131.86M, are held directly by him.
How profitable is Dollarama?
As Canadians continue to purchase at inexpensive stores, Dollarama’s earnings increases.
The company posted earnings of $179.9 million on Wednesday, an increase from $145.5 million in the same quarter last year. For the quarter that ended on April 30, profits came in at 63 cents per diluted share, up from 49 cents per diluted share a year earlier.
Are the goods from Dollarama safe?
According to a study, products from dollar stores frequently have harmful ingredients. One in four items sold at dollar stores, including Dollarama and Dollar Tree, tested positive for compounds forbidden by the Environmental Protection Act, according to a study by Environmental Defence.