- Dollarama
- Stellantis
- Aritzia, Lululemon and Gildan
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Counter-tariffs challenging but ‘manageable’ for Dollarama: CEO
Dollarama Inc. (TSE: DOL)
- Q4 earnings: $391 million, or $1.40 per diluted share, up from $323.8 million, or $1.15 a year earlier.
- Sales: $1.88 billion, up from $1.64 billion the previous year.
Dollarama Inc. says recent Canadian counter-tariffs on U.S. imports are affecting its operations but are unlikely to derail the business. CEO Neil Rossy told analysts the duties on items such as food, paper and sporting goods are having “not an inconsequential impact,” yet he called the effect “manageable” and noted competitors face the same pressures.
Rossy warned that sustained tariff disputes could sap consumer confidence. “When consumers spend less, that weakness shows up across the retail sector,” he said, adding that Dollarama’s value-focused model provides some resilience.
The comments followed U.S. trade actions that applied a 10% baseline tariff on many imports and additional levies — including 25% on goods outside the Canada-U.S.-Mexico Agreement and 25% on some auto imports. Canada responded with retaliatory tariffs on March 4 and again on March 12.
Rossy identified “consumables” as the category most exposed to tariffs. This includes paper products, plastics and foil, cleaning supplies, basic health and beauty items, pet food, confectionery, beverages, snacks and other everyday food items. To reduce cost pressure, Dollarama is considering product substitutions and selective pricing adjustments where necessary.
Asked whether a “buy Canadian” push could boost Dollarama’s sales, Rossy said he had not seen clear evidence of that effect. He emphasized the company’s Canadian roots but noted the brand’s value proposition remains its primary focus: delivering low-cost everyday essentials year-round.
The company’s fourth-quarter profit rose to $391 million, or $1.40 per diluted share, compared with $323.8 million, or $1.15, a year earlier. Quarterly sales climbed to $1.88 billion from $1.64 billion, and comparable-store sales grew 4.9%, driven by a 5.3% increase in transactions despite a slight drop in average transaction size.
The quarter included progress on plans to open a new distribution centre near Calgary by the end of 2027 and a longer-term goal to operate 2,200 stores by 2034. Planning for the Balzac facility is underway, with construction expected to start this summer. Dollarama also plans to complete its acquisition of Australia’s The Reject Shop, a $233 million deal that the company expects to convert over several years to Dollarama’s operating model and expand to roughly 700 stores by 2034.
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Stellantis temporarily shuts plant as automakers grapple with new tariffs
Stellantis paused production at its Windsor, Ontario assembly plant for two weeks as automakers assess the impact of newly announced U.S. tariffs on vehicle imports. The temporary shutdown affects some North American facilities as manufacturers evaluate supply chains and next steps.
Company spokeswoman LouAnn Gosselin said Stellantis is reviewing the tariffs’ impact and engaging with the U.S. administration on policy changes. Unifor Local 444 president James Stewart said the union anticipated possible downtime given the uncertain trade climate but described the situation as frustrating for workers.
The auto industry in North America is tightly integrated and built on free-trade supply chains, so steep import duties can quickly disrupt production. Vehicles that fully comply with the Canada-U.S.-Mexico Agreement are temporarily exempt from the new U.S. tariffs, but that reprieve could change depending on how the U.S. applies exemptions for the value of U.S. parts.
Some automakers are continuing production. Honda Canada reported its Alliston, Ontario plant remains in operation, and Toyota Canada said its Cambridge and Woodstock plants are still building to plan. Both manufacturers said they are assessing the situation and coordinating with suppliers and government partners. Ford and General Motors did not provide immediate comment.
Industry groups warned of wider shutdowns: Automotive Parts Manufacturers’ Association president Flavio Volpe warned that tariffs could force closures at many facilities. Unifor national president Lana Payne said the tariff actions threaten Canadian industries and called for a strong, coordinated response to protect jobs and the economy.
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Canadian apparel company stock prices fall after tariff announcement
Shares of Canadian apparel companies fell as markets reacted to sweeping tariff announcements. On the Toronto Stock Exchange, Aritzia led decliners with shares down about 20% at midday, while Lululemon shares slid roughly 12% on the Nasdaq. Gildan also dropped more than 7% on the TSX.
The market move followed U.S. tariff announcements that included a 10% baseline rate on many imports and additional levies for numerous trading partners. While Canada was not immediately included in some of the new measures, it already faces duties on certain products such as autos and metals, leaving Canadian exporters vulnerable. Economists have warned that broad tariff escalations risk slowing global growth and could contribute to a recession if they intensify.
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