Dollarama Financial Statement

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Recommended: Analysis of dollarama

Introduction:
Dollarama is a public retail company founded in the year 1992 by Larry Rossy. This company becomes well known all around Canada dealing in different consumer products. Now, Dollarama has its store in every province of Canada. It has multiple stores in Ontario only.
History:
From year 1910 to 1992, this was the private company known as S. Rossy Inc. Till year 1992, it opened 44 stores, then in the year 1992,S. Rossy Inc. was converted into Dollarama by Larry Rossy. Company started growing at leaps and bounds by opening new stores and also by converting existing S. Rossy Inc. stores into Dollarama once. The successor company started its first store at the shopping center “Les promenades du” in Matane Quebec with items offered for …show more content…

It sell these products at the different price points starting from 1$ to 3 $. The addition of new price points allow the company to exceed customers expectations of quality and verity of products.
In the beginning, payment in the Dollarama stores was only done by cash, but in the year 2008, interac debit cards became more popular among people. Recently, Gift cards and interac flash payments are also being offered to people
Financial growth:
In the year 2009, the revenue of this company was 1.420 billion CAD and net income was 116.8 million CAD. In year 2004 80% of its share was sold to a private equity fund, Bain capital of Boston, Massachusetts for $ 850 million US dollors. In year 2013 dollarama was planning to expand its market to Latin America and made an eight year agreement with Dollar city a Salvadoran chain of dollar store in central America to share its business expertise and and provide sourcing …show more content…

In the year 2001, it purchased a warehouse of 3,56,675 square foot in Montreal, then in 2003, it opened another warehouse in Montreal of 2,69,950 square foot. Now, its warehouses are in every province of Canada.
Corporate governance:
The Dollarama has very strict code of conduct related to corporate governance. The Code applies to all directors, officers, head office management, head office employees, warehouse management, distribution center management, field management, and store management. Employees of the Corporation shall acknowledge the Code and act accordingly.
RESPECT OF POLICIES AND RULES:
According to the importance of each case, confirmed violation of the any policies and rules will lead to immediate disciplinary measures and including termination of employment or removal from office without notice.
Recent events:
• New Warehouse
On February 2 2016 the board of directors of dollarama announced to invest $60 million in construction of a new warehouse in Montreal, Quebec. This warehouse will be of 5,00,000 square foot.
• Amendment to Credit

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