Dollarama announced today that it would “gradually introduce some non-grocery items priced as high as $3 this summer,” according to The Canadian Press.  The introduction of $2.50 and three-dollar items is set to begin in August, much to the dismay of college students everywhere.

With such an announcement, you’d think the company was having a hard time breaking even, raising their prices as a result.  But this is simply untrue; “Dollarama’s first-quarter profit rose 40 per cent to $42.6 million, or 56 cents per share” as per the CP.  This was due in part to the opening of 54 new stores, but also as a result of higher-priced items—51 per cent of Dollarama sales last year came from items costing more than a dollar.  Go figure, eh?

On that note, the Dollarama that booted Sonic Boom across the street looks about ready to open.  Most of the shelves are stocked, and I imagine that it won’t be long before they start competing with Honest Ed’s and Pay Less for Everything.  Yes, that is actually the name of a store on Bathurst.  If the recent trend continues, they could possibly change their name to Pay Less Than Dollarama for Everything…