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PesoRama Inc. (TSXV: PESO), a Canadian company, operates dollar stores in Mexico under the JOi Canadian Stores brand. Recently, the company settled a substantial indebtedness, enhancing its financial position. PesoRama's 23 stores offer a wide range of merchandise, including household goods, pet supplies, party supplies, and more. With consistent growth in store traffic and product assortment, PesoRama aims to meet the needs of cost-conscious shoppers in an underserved market.
PesoRama Inc. (TSXV: PESO), a Canadian company operating dollar stores in Mexico under the JOi Dollar Plus brand, has announced the cross listing of its common shares on the Frankfurt Stock Exchange (FSE) under the symbol 'ZE6'. The FSE, being the largest of Germany's seven stock exchanges, will complement PesoRama's existing TSXV listing.
The company expects this strategic move to enhance liquidity, broaden its shareholder base, and facilitate advanced electronic trading and settlement. CEO Rahim Bhaloo expressed optimism about the cross listing's potential to attract additional investors and support the company's growth.
PesoRama Inc (TSXV: PESO) announced the grand opening of its 25th JOi Dollar Plus store in Portal Centenario, México City, scheduled for December 21st. The new 413-square meter store is located in Álvaro Obregón, a municipality with approximately 759,137 inhabitants, situated 19.5 kilometers from Mexico City's center. The company will host a live stream of the ribbon-cutting ceremony on Instagram (@joi.dollar.plus) at 2:00 PM CDMX / 3:00 PM EST.
CEO Rahim Bhaloo emphasized that this milestone opening enhances their Mexican market expansion and accessibility, noting plans for additional locations in high-density customer areas to drive continued growth.
PesoRama Inc (TSXV: PESO), operating dollar stores in Mexico under the JOi Canadian Stores brand, reported strong financial results for Q3 FY2025. Key highlights include a 17% increase in total sales to $16.6M, a 49% rise in gross profits to $6.4M, and a significant 305% surge in store profits to $1.9M compared to the same period last year.
The company's performance was driven by successful multi-price point strategy implementation, resulting in a 3.3% increase in product gross margins to 44.8%. Same-store sales grew by 13%, while store traffic increased by 55%. The company is expanding its presence with its 25th store location secured in Mexico City, scheduled to open in December 2024.
PesoRama Inc (TSXV: PESO) announced the grand opening of its 24th JOi Dollar Plus store in La Condesa, Mexico, scheduled for October 26th. The new 554-square meter store is located in La Condesa neighborhood, 5 kilometers from Mexico City's center, serving a population of approximately 545,884 inhabitants. A live stream of the ribbon-cutting ceremony will be held on the company's Instagram page @joi.dollar.plus at 2:00 PM CDMX / 4:00 PM EST.
PesoRama Inc. (TSXV: PESO), operating dollar stores in Mexico under the JOi Canadian Stores brand, reported strong financial results for Q2 FY 2025. Key highlights include:
- Sales increased 25% to $11,183,026
- Gross profits rose 65% to $4,089,099
- Product gross margins improved 3.7% to 44.5%
- Store profits surged 1823% to $1,128,161
- Same-store sales grew 14% compared to 2024
The company attributes its success to unique merchandising strategies, product assortment, and customer experience. PesoRama plans to open its 24th Joi Dollar Plus store in Mexico City's Condesa neighborhood in October 2024, further expanding its footprint in the Mexican market.
PesoRama reported its first quarter financial results for the period ending April 30, 2024, showing significant growth across various metrics.
Sales increased by 29% to $5,739,936, driven by organic growth and two new stores. Gross profits rose by 49% to $1,943,290. Product gross margins improved by 4.8%, reaching 46.1%. Store profits saw a significant increase of 279%, totaling $447,993. Same store sales grew 13%, and sales units increased by 11%. Adjusted EBITDA loss narrowed by 38% to ($644,613).
The company attributes its growth to a multi-price strategy, expanded product assortment, and higher demand. Details are available in the company's unaudited interim consolidated financial statements on SEDAR.
PesoRama (TSXV: PESO) reported its FY 2024 financial results, showcasing strong performance with total sales increasing by 41% to $20.5M and gross profits up by 44% to $7M. The company saw an increase in same-store sales by 14%, and store traffic grew by 15.6%. Store profits surged by 59% to $1.7M, driven by strategic merchandising and product assortment. The product gross margin improved to 42.4%, a 2.3% increase. Key achievements include securing a $20M credit facility and opening two new JOi Dollar Plus stores in Mexico.
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