A Garage clothing store in Montreal in 2024.Graham Hughes/The Canadian Press
Groupe Dynamite Inc. GRGD-T reported a second-quarter profit of $63.9-million, up from $40.4-million a year earlier, as its revenue rose 36.5 per cent. Shares were up 16 per cent in midday Toronto trading.
The fashion retailer, which operates under the Garage and Dynamite banners, says its profit amounted to 56 cents per diluted share for the quarter ended Aug. 2, up from 38 cents per diluted share in the same quarter last year.
On an adjusted basis, Groupe Dynamite says it earned 57 cents per diluted share, up from an adjusted profit of 40 cents per diluted share a year earlier.
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Revenue for the 13-week period totalled $326.4-million, up from $239.1-million a year ago, while its comparable store sales rose 28.6 per cent.
In its outlook, Groupe Dynamite says it now expects comparable store sales growth between 17.0 and 19.0 per cent for its full year, up from earlier expectations for between 7.5 and 9.0 per cent.
It also raised its expectations for its adjusted earnings before interest, taxes, depreciation and amortization margin to between 32.0 and 33.5 per cent, up from earlier guidance for between 30.3 and 32.3 per cent.