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Dollarama Announces Plans to Open 600+ New Stores in Canada

Dollarama Announces Plans to Open 600+ New Stores in Canada

By Thomas Kenzaki

Everybody's favourite dollar store is going to be expanding a lot over the next decade. Today Dollarama announced that it will be opening over 600 new stores in Canada by the year 2031.

The announcement came today during Dollarama’s report on its fourth quarter and fiscal year financial results. They reported sales growth of 6.3% during the fiscal year ending January 31, 2021.

The increase in sales was largely attributed to the total number of new Dollarama stores opened over the past 12 months where they went from 1,291 stores on February 2, 2020 to 1,356 stores on January 31, 2021.

The popularity of Dollarama has exploded in recent years, with the retail giant now having a devoted fan following similar to Costco. There are even Facebook groups with upwards of 250,000+ members dedicated to the brand now.

Here on RedFlagDeals, our community members are often posting their “Dollarama finds”. Forum member stovetop regularly shares photo reports from his shopping trips which regularly rack up 30-40 thousand views each.

With Dollarama’s ambitious plan to have 2,000+ store locations open in the next 10 years, this will put them near the top of the list of retailers with the most store locations in Canada.

Are you a fan of Dollarama? Let us know what you think about Dollarama’s big expansion plans in the comments below.

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Source: Dollarama

8 Comments

    • Dollar Tree is way better imo, nlots of great actual deals, like Monster Java drinks for $1.25 and stuff like that, and while they moved up to $1.50 now, Dollarama is basically those terrible "Dollar store with more" overpriced stores with prices much higher then $1
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    • Although this is good news that a Canadian company is doing well--and actually intends to expand and add jobs over the next ten years--it does leave me scratching my head. Unless Dollarama plans to enter really small towns, where are they going to go that they don't have stores already? In my metro area it seems there is a Dollarama in virtually every strip mall already.

      I wonder if the company isn't falling into the Starbucks trap: growth for the sake of growth. Just a few years back Starbucks was shoehorning locations everywhere they could, and some of the sites were just plain dumb: placing a kiosk in a supermarket when there was already a Starbucks in the same plaza or across the street. Now we're seeing a lot of these "excess" locations closing (including the one inside my local supermarket).

      Dollarama needs to carefully ensure that their proposed plan actually grows the business and doesn't simply result in cannibalization of existing stores. Or they will simply end up culling many of these new stores in five years' time.
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    • Already too many of them - all the same

      Rather see more Dollar Trees!
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    • kool1 wrote: Already too many of them - all the same

      Rather see more Dollar Trees!
      I miss the "Everything For a Dollar Store" that used to be in all the major malls in Alberta. Good assortment of products but Dollarama crushed them, as it did with Buck or Two.
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    • TravellingChris wrote: I miss the "Everything For a Dollar Store" that used to be in all the major malls in Alberta. Good assortment of products but Dollarama crushed them, as it did with Buck or Two.
      True - Buck or Twos are pretty much wiped out.
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    • Yay... More Chinese throw-away garbage.
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    • Dollar Tree & Dollar General have wiped out all small stores in all little towns in the US where they set up shop. Dollarama has the potential to do the same in small communities all over Canada. Dollarama is very, very clean and organized compared to the competition. In the US Dollar Tree and Dollar General are very messy and dirty... On a CBC report I saw, when interviewed upon arriving, all new immigrants said they were excited to their first Dollarama visit...
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    • this is like the early days of Dollar General, major expansions...stock splits wooo, and then it was taken private ,but its back on the stock exchange now
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