Dollarama ramps up store expansion in Canada

Dollarama is bullish on brick-and-mortar growth.

The Canadian discounter has increased its long-term store growth target in Canada to approximately 2,000 stores during the next ten years, with an average new store capital payback period of roughly two years. Previously, Dollarama had set a long-term goal of 1,700 stores. 

Based in Montreal, Dollarama operated 1,356 stores at the end of January. 

"Based on our historical performance, our hard-earned position as a weekly shopping destination for Canadian families, and a careful evaluation of market potential and dynamics, we are increasing our long-term growth target in Canada to 2,000 stores by 2031," stated Neil Rossy, president and CEO Dollarama president and CEO, said in a statement.