The discount retailer raised its target from a previous goal of 2,000 Canadian stores by 2031. It announced the move alongside third-quarter results, citing strong sales, which climbed 5.7 per cent from last year to $1.6 billion. It attributed the growth to a net new addition of 60 stores over the last year. (The Logic)
Talking point: The worst of post-pandemic inflation may be contained, but consumers are still feeling its pressure. Dollarama has benefited as consumers hunt for bargains to keep their budgets in check. But just as inflation is easing, there are signs the boom times may be over. Comparable store sales—a metric that tracks sales growth that isn’t tied to new store openings—rose 3.3 per cent from last year, slower than the 11.1 per cent growth it reported in the third quarter of 2023. The everyday essentials purveyor also missed profit expectations, sending its stock down 5.8 per cent Wednesday afternoon.