News

Dollarama to become a $5-or-less store next year

by Lorraine Carpenter

Inflation is real.

In a sign that inflation is hitting the retail market on all fronts, dollar-store chain Dollarama has announced its intention to diversify its merchandise with items priced at $5 or less.

The company claims that this move is consistent with multiple price point strategy implemented in 2009. Currently, the most expensive item sold at Dollarama costs $4.

Despite a holiday-season slump due to Omicron, sales at Dollarama, which has 1,421 stores across Canada, actually increased over the past year to $1.22-billion, up from $1.1-billion this time last year. The company’s quarterly profit rose to $220-million, up from $173-million a year ago.

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by Lorraine Carpenter

Editor in chief
Lorraine Carpenter was born in Montreal and studied communications and journalism at Concordia. She co-founded Cult MTL in 2012 following 12 years at the now-defunct Montreal alt weekly the Mirror, where she worked in editorial as copy editor and music editor. She’s dedicated to supporting the cultural scene in Montreal.