PesoRama Reports Strong Q2 Financial Performance and Store Expansion
News related to:PesoRama Inc · 2 min read
PesoRama Inc., a Canadian company operating dollar stores in Mexico under the JOi DOLLAR PLUS brand, reported a significant increase in its financial performance for the second quarter of fiscal year 2027. The company’s total sales for the three months ended July 31, 2026, surged by 59% to $9,689,960, compared to $6,097,750 in the same period of the previous year. This marked the highest revenue quarter in the company’s history, representing 64% of total fiscal 2026 sales of $26,704,371, achieved in half the time.
Gross profits also saw a substantial rise, increasing by 46% to $3,267,183 for the quarter. The company’s average traffic increased by 37%, contributing to the overall growth. However, the product gross margin decreased by 1.7% to 44% for the quarter, reflecting a shift in the company’s financial metrics.
PesoRama’s store count expanded by 50%, from 28 stores as of July 31, 2025, to 42 stores as of July 31, 2026. This expansion included the opening of seven new stores during the quarter, bringing the network to 42 stores at the end of the period. The company’s strategic expansion continued with the opening of additional locations in key areas, including Mexico City and the State of Mexico.
In a significant financial move, PesoRama closed an oversubscribed non-brokered private placement, raising gross proceeds of over $10 million. Additionally, the company completed a $21 million convertible debenture offering, which was used to retire its senior debt. This refinancing is expected to reduce annualized cash interest expense by approximately $1.1 million on the principal repaid.
Adjusted EBITDA improved to a loss of $296,303 for the three months ended July 31, 2026, compared to a loss of $560,529 in the comparable prior-year period. The company’s balance sheet was strengthened, with the revolving loan payable reduced from $19,826,441 at January 31, 2026, to nil. This move is expected to provide the company with greater financial flexibility.
Same store sales increased by 4%, demonstrating the resilience of the business model and continued demand for the company’s value offerings. Rahim Bhaloo, Founder, CEO, and Chairman of the Board of PesoRama, commented on the company’s progress, stating, “As the only true dollar store company in Mexico, we are constantly innovating and pushing the boundaries of what is possible. Our Q2 results demonstrate the resilience of our business model and continued demand for our value offering.”
The company’s expansion strategy continued with the opening of four new stores subsequent to July 31, 2026. These locations, including Galerías San Juan del Río, Parque Vía Vallejo, Centro Tepozán, and Cruz del Sur, are strategically positioned to expand the company’s presence in key urban and rural areas of Mexico.
PesoRama’s financial performance and strategic moves underscore the company’s commitment to growth and innovation in the Mexican retail market. The company’s expansion and financial improvements are expected to position it for continued success in the coming quarters.