Montreal-based dollar store retailer Dollarama is set to open about 400 more Canadian stores, including approximately 150 new locations within the next two years. It opened 86 stores in 2013 and it will continue to expand aggressively.
The company plans to open about 85 stores in 2014 and between 70 and 80 stores in 2015. Most new stores will be in Ontario and in Western Canada. The company also plans to expand internationally, with 15 stores planned for El Salvador and stores potentially in Costa Rica, Columbia and Peru.
Dollarama is Canada's largest retailer of items costing three dollars or less. The company was founded in 1992 and currently has about 800 Canadian locations. All products are priced up to and including three dollars. It was founded by the company's CEO, Larry Rossy. The company expects to eventually operate about 1,200 Canadian store locations.
Dollarama's CFO Michael Ross provided the above information during his presentation at CIBC's Retail and Consumer Investor's Conference on Wednesday, March 26th. This information was initially reported by the Toronto Star.