As Canadians deal with rising inflation and higher prices for food, fuel, and home heating costs, discount chain Dollarama says demand has boomed for bargains and the dollar store giant plans to open more stores next year.
The Montreal-based retailer reported its fourth-quarter growth on March 29, saying comparable store sales grew 15.9 percent and fiscal year 2023 growth was up 12 percent. A news release from the company said the discount giant met expectations on all key metrics.
Fourth-quarter sales increased by 20.3 percent, to $1.47 billion, compared to $1.22 billion for the fourth quarter of fiscal year 2022, said the company.
“This increase was driven by growth in the total number of stores over the past twelve months (from 1,421 stores on January 30, 2022 to 1,486 stores on January 29, 2023) and in comparable store sales,” said the March 29 release….