Who is larry rossy

Rossy Inc. His son George took over in and led the retailer until his death in when Larry assumed leadership of the store company. The network grew to 44 stores by , when Larry opened the first Dollarama in Matane, Que.

After converting all the locations to the dollar store concept, Rossy continued to open new stores at a furious pace, reaching 1, stores in The leadership announcement came as the company reported better than expected profit for its fourth quarter and revised its outlook upward for the current year.

Shares climbed 7. Management attributed the improvement to higher product margins, lower transportation costs, and positive scaling of strong comparable same-store sales. The company says its traffic increase is uniform across Canada, not localized to Alberta and Saskatchewan where challenges in the energy sector could lead shoppers to seek cheaper goods.

The company raised its fiscal gross margin range estimate by one percentage point to between 37 and 38 per cent and its also increased its earnings margin by a percentage point to between Dollarama also reported it is experiencing a more favourable buying environment in China as a result of softer demand, which the company expects will help offset some of the currency headwinds anticipated in the coming year.

Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc. A welcome email is on its way. If you don't see it, please check your junk folder. The next issue of Financial Post Top Stories will soon be in your inbox.

We encountered an issue signing you up. Please try again. This website uses cookies to personalize your content including ads , and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Service and Privacy Policy.

Search Submit search Quick Search. Comments Close comments menu. Video link. Close X. Click to scroll back to top of the page Back to top. By Staff The Canadian Press. Posted April 8, pm. Updated April 8, pm. View image in full screen.

Smaller font Descrease article font size - A. Share this item on Facebook facebook Share this item via WhatsApp whatsapp Share this item on Twitter twitter Send this page to someone via email email Share this item on Pinterest pinterest Share this item on LinkedIn linkedin Share this item on Reddit reddit Copy article link Copy link.

Story continues below advertisement.