MONTREAL — Groupe Dynamite has hiked its revenue forecast as it looks to capitalize on a strong U.S. market and open more stores stateside.
The retailer, which is behind the Dynamite and Garage brands, said it now expects total revenue growth for its 2026 financial year to be 25 to 27 per cent, up from earlier guidance for 22 to 25 per cent growth.
The company reported its United States revenue soared 52.2 per cent in its latest quarter to $271.6 million. In comparison, revenue in Canada was down 1.9 per cent, coming in at $145.1 million.
“The United States market is more than eight times the size of Canada by population. We believe there is significant opportunity beyond 2028 to grow our store footprint in the U.S. and internationally,” chief financial officer Jean-Philippe D. Lachance told analysts on an earnings call, referring to the company’s Garage brand.
Chief executive Andrew Lutfy said that while the Canadian economy is “softer,” the United States is “firing on all cylinders” with low unemployment and high wage growth.
“Consequently, we’re dealing with a K-shaped consumer down there, at the top end of a K-shaped consumer who’s probably more resilient in a more resilient economy,” he said of American consumers.
In raising its guidance, D. Lachance said the retailer has also accounted for fuel price inflation, as oil prices topped US$100 per barrel on Thursday.
“We are very much mindful of the situation out there, and we have taken conservative assumptions in our guidance to make sure that it reflects the current market conditions,” D. Lachance said.
Dynamite reported a profit of $113.4 million, up from $63.9 million a year ago.
The profit amounted to $1.00 per diluted share for the quarter ended Aug. 1, up from 56 cents per diluted share in the same quarter last year.
On an adjusted basis, the company said it earned 96 cents per diluted share, up from an adjusted profit of 57 cents per diluted share a year ago.
Revenue in its latest quarter totalled $423.6 million, up from $326.4 million in the same quarter last year, while comparable-store sales rose 10.3 per cent.
The company’s e-commerce sales jumped 31.5 per cent during the period year-over-year.
“We see digital as much more than another transaction channel. It is increasingly the connective tissue of our customer experience,” said Stacie Beaver, Groupe Dynamite’s chief operating officer.
Beaver said the company recently expanded its shipping to nine additional countries across Europe and Australia, broadening its global reach.
Comparable store sales growth for the year is now expected to be between 12 and 14 per cent, up from earlier guidance for 11 to 14 per cent.
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Daniel Johnson, The Canadian Press
This report by The Canadian Press was first published Sept. 10, 2026.
