Groupe Dynamite Raises Growth Outlook as Garage Expands Abroad

The Garage and Dynamite owner opened seven Garage stores during the quarter: six in the United States and one in the United Kingdom. It also closed seven stores, so the openings did not represent a net increase in the store count.

“We remain focused on creating long-term value as we scale Groupe Dynamite with discipline,” said Andrew Lutfy, CEO and chair of the board. Online revenue increased 31.5% to C$61.4 million. The company credited lower tariff costs and logistics efficiencies with helping gross margin rise to 68.8%.

Full-year revenue growth guidance increased to 25%–27%, from 22%–25%. Its plan for 24–26 gross openings and 16 closures remains unchanged, implying eight to ten net new stores. That distinction matters as the group shifts its geographic footprint.