Dollarama
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| Type | Public 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 (2009)[1] |
| Website | www.dollarama.com |
Dollarama is a chain of over 690 dollar stores across Canada. The company is headquartered in Montreal and, since 2009, is Canada's largest retailer of items for two 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 no-longer-existent 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 $1.00[5] although in early 2009 Dollarama also introduced items priced at $1.25, $1.50 and $2.00. Notable exceptions to this policy include chocolate bars and chewing gum, which are sold for $0.69. 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 manufactures, 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. & Cott Beverages. 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. & Harwood Blvd. in Vaudreuil-Dorion.
[edit] See also
[edit] References
- ^ a b "Fourth Quarter Earnings Release". Dollarama Inc.. 07-04-11. http://www.dollarama.com/wp-content/uploads/2011/04/DOL-Q4-11-ENGLISH-PR-Final.pdf. Retrieved 29-04-11.
- ^ "About Dollarama". Dollarama. http://www.dollarama.com/about_us/. Retrieved 29-04-11.
- ^ "Dollarama History". Dollarama. http://www.dollarama.com/about_us/our_history/. Retrieved 29-04-11.
- ^ "Stores we miss". MSN Money. http://money.ca.msn.com/savings-debt/gallery/stores-we-miss?page=8. Retrieved 25-02-12.
- ^ a b c "Dollarama undergoes major transformation". Montreal: National Post. June 1, 2006. http://www.canada.com/nationalpost/financialpost/story.html?id=7dcebed2-ab61-413f-bf93-19b08cd945d9.
- ^ Silcoff, Sean (September 18, 2008). "Million-dollar question: Are $5 stores up next?". Globe And Mail. https://secure.globeadvisor.com/servlet/ArticleNews/story/gam/20080918/RDOLLARAMA18.
[edit] External links
- Official website
- CNW: Dollarama, press releases
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