Investing in blue-chip companies that are growing at a steady pace is a proven strategy for generating outsized gains over time. In this article, I have identified two such top Canadian stocks you can buy right now with $2,000. Let’s dive deeper.
Is this Canadian stock a good buy right now?
Valued at a market cap of $51 billion, Dollarama (TSX:DOL) operates a chain of stores and provides related logistical and administrative support activities. These stores offer a wide range of general merchandise, consumables, and seasonal products. Dollarama operates in Canada, as well as in Latin America, Colombia, Peru, and Mexico.
Dollarama delivered strong second-quarter results while executing a major international expansion push. Sales rose to 10.3% to over $1.7 billion. Meanwhile, same-store sales in Canada increased by 4.9%, driven by a 3.9% rise in transactions and a 0.9% rise in average ticket size.
The Canadian discount retailer is pushing into two new markets simultaneously. Dollarcity opened its first store in Mexico, in Guadalajara, during the quarter. Dollarama also completed its acquisition of Australia’s largest discount retailer, The Reject Shop, which added 395 stores and approximately 5,000 employees.
The Australia transformation will take three to four years, and Dollarama plans to gradually phase in its merchandise and convert store layouts through fiscal 2027. Once stores reach a critical mass of Dollarama products, they’ll switch to the Dollarama banner. The company doesn’t expect any bottom-line contribution from Australia in fiscal 2026 once integration costs are factored in.
Consumables continue driving sales in Canada as shoppers focus on essentials amid economic uncertainty. Management raised its full-year same-store sales guidance to the upper end of the 3-4% range. Additionally, the gross margin improved to 45.5% in Q2 from 45.2% in the same quarter last year, helped by lower logistics costs.
Dollarama opened 27 net new stores in Canada during the quarter, bringing the total to 1,665 locations. The company is on track to open 70-80 net new stores this fiscal year, which is well above historical levels.
Dollarcity continues to perform well, with 658 stores across five Latin American countries. Dollarama’s share of Dollarcity earnings increased to $38.3 million, up from $22.7 million the previous year.
Analysts tracking the TSX stock forecast adjusted earnings to expand from $4.16 per share in fiscal 2025 (ended in January) to $8.33 in fiscal 2030. If DOL stock is priced at 30 times forward earnings, it could gain 35% within the next four years.
Is ATD stock still a good buy?
Valued at a market cap of $68 billion, Alimentation Couche-Tard (TSX:ATD) operates and licenses convenience stores in North America, Europe, and Asia. ATD operates its convenience store chain under various banners, including Circle K, Couche-Tard, Holiday, and Ingo.
Alimentation Couche-Tard reported progress in its first quarter of fiscal 2026, with same-store sales turning positive across all regions, including the United States, for the first time in several quarters.
It posted adjusted earnings of $0.78 per share, down 6% from last year, while adjusted EBITDA (earnings before interest, tax, depreciation, amortization) increased 1.6% to reach approximately $1.6 billion.
The turnaround was driven by improved food execution and customer value initiatives. Food bundles in North America grew nearly 40%, with weekly sales exceeding 750,000 compared to 540,000 at the end of fiscal 2025. U.S. merchandise margins expanded by 90 basis points to 34.6%, helped by reduced food waste and better vendor support. Moreover, the company saw ten consecutive weeks of positive same-store sales heading into the second quarter.
Fuel margins remained stable despite competitive pressures in southern border states, such as Texas, Florida, and Arizona, where traffic declined by mid- to high single digits.
The company completed its GetGo acquisition of nearly 270 stores and continued expanding in Europe, where it now operates 65 Circle K-branded locations. Management maintained its focus on cost control, keeping expense growth below inflation while investing in technology platforms and loyalty programs that now count 11.5 million Inner Circle members.
Analysts tracking the TSX stock forecast adjusted earnings per share to expand from $2.71 in fiscal 2025 (ended in April) to $3.68 in fiscal 2028. If ATD stock is priced at 30 times forward earnings, it could gain 50% within the next three years.
