Dollarama
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| Type | Public |
|---|---|
| Traded as | TSX: DOL |
| Industry | Retail |
| Founded | 1992 |
| Headquarters | Montreal, Quebec, Canada |
| Products | Cleaning supplies, Toys, Candy, Grocery, Gifts, Healthcare products, Kitchenware, Stationery, Party Supplies, Hardware. |
| Revenue |  $1.420 billion CAD (2009)[1] |
| Net income | $116.8 million CAD |
| Website | www.dollarama.com |
Dollarama is a chain of over 700 dollar stores across Canada. The company is headquartered in Montreal and, since 2009, is Canada's largest retailer of items for three dollars or less. [2] The first Dollarama store was created at the shopping centre "Les promenades du St-Laurent" in Matane. Dollarama now has stores in every province of Canada, with Ontario having the most stores.[3]
Virtually all the Dollarama stores are located where there once were BiWay stores, a defunct chain of Canadian discount retail operations intended to compete with retailers such as Zellers, Kmart and Wal-Mart, which closed after a series of dubious financial transactions involving a new owner of the parent operation. [4]
The majority of items are priced at $1.00 or less[5] although in early 2009 Dollarama also introduced items priced up to $2.00. Due to the positive response from consumers to the multi-price point strategy, the store began to introduce items at $2.50 and $3.00 in August of 2012. All Dollarama stores now accept Interac debit payments.
The $1.25, $1.50, and $2.00 price level increase allowed the store to acquire products from a greater variety of sources, including closeout sales.[6]
Dollarama has pioneered by sourcing customized products from manufacturers, evidenced by the numerous in-store items which have Dollarama's name printed on the product labels. In mid-2009 they joined other retail chains in rolling out their own store brand, "D". Unlike most dollar/discount stores, it sources products directly from manufacturers, rather than local distributors.
Lawrence Rossy was the head of the parent company of Dollarama, S. Rossy Inc. which used to operate a Rossy discount department store chain. He founded the privately held chain in 1992 and created a profitable business that became very successful.[5] In November 2004, 80 percent of the chain was sold for $850 million US, to a private equity fund, Bain Capital, of Boston, Massachusetts.[5]
Dollarama mainly sells soft drink products from Coca-Cola Ltd. and Cott. Some Dollarama stores have more than 20,000 square feet of space,[citation needed] particularly in Montreal's Pierrefonds-Roxboro borough on Des Sources Blvd. at Harwood Blvd. in Vaudreuil-Dorion.
See also [edit]
References [edit]
- ^ "Fourth Quarter Earnings Release". Dollarama Inc. 07-04-11. Retrieved 29-04-11.
- ^ "About Dollarama". Dollarama. Retrieved 29-04-11.
- ^ "Dollarama History". Dollarama. Retrieved 29-04-11.
- ^ "Stores we miss". MSN Money. Retrieved 25-02-12.
- ^ a b c "Dollarama undergoes major transformation". Montreal: National Post. June 1, 2006.
- ^ Silcoff, Sean (September 18, 2008). "Million-dollar question: Are $5 stores up next?". Globe And Mail.
External links [edit]
- Dollarama
- CNW: Dollarama, press releases
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