Groupe Dynamite reports Q1 profit and revenue up from year ago

Clothing is on display inside a Garage clothing retail store in Montreal, Friday, Nov. 15, 2024. THE CANADIAN PRESS/Graham Hughes

MONTREAL — Groupe Dynamite Inc. reported a first-quarter profit of $51.7 million, up from $27.3 million in the same quarter last year, as its revenue rose 37 per cent.

The clothing retailer behind the Garage and Dynamite banners said Tuesday its profit amounted to 45 cents per diluted share for the 13-week period ended May 2, up from a profit of 24 cents per diluted share a year earlier.

On an adjusted basis, Groupe Dynamite says it earned 50 cents per diluted share in its latest quarter, up from 25 cents per diluted share a year ago.

Revenue for the quarter totalled $310.6 million, up from $226.7 million in the same quarter last year, while comparable store sales growth was 22.6 per cent.

The retailer’s gross margin rose to a four-year high at 67.4 per cent, up from 62.1 per cent a year ago.

Stacie Beaver, Groupe Dynamite’s president and chief operating officer, called the first-quarter results a strong start to the company’s 2026 financial year.

“By opening new locations in premium centres, optimizing our fleet and delivering a compelling in-store experience, we continue to drive significant productivity improvements across our store network,” Beaver said in a statement.

“Most importantly, we continue to see strong customer engagement across both brands, reflected in growth in our active customer base and increasing customer lifetime value.”

In its outlook, the company said it now expects eight to 10 net new store openings for 2026, down from earlier guidance for 10 to 12 net new store openings.

The retailer also raised its expectations for its adjusted earnings before interest, taxes, depreciation and amortization margin to between 38.25 and 39.50 per cent compared with earlier expectations for 37.75 to 39.25 per cent.

This report by The Canadian Press was first published June 16, 2026.