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Ami Paris Opens First Canadian Store at Yorkdale

Ami Paris at the Yorkdale Shopping Centre in Toronto. Photo: Michael Muraz

Ami Paris has arrived in Canada, bringing its understated Parisian sophistication to Toronto’s Yorkdale Shopping Centre with the opening of its first Canadian flagship. The boutique, which measures about 2,500 square feet, opened this month and anchors a prominent stretch of Yorkdale’s growing luxury corridor. The arrival marks a meaningful step for the brand as it continues expanding internationally and signals the latest chapter in Yorkdale’s ongoing evolution into one of North America’s most robust destinations for luxury fashion.

The shop replaces a former Nespresso location, a transformation that reflects the mall’s consistent strategy of trading up into premium retail. Yorkdale has spent the past several years attracting high-profile brands from Europe, Asia, and the United States, and the introduction of the Ami Paris Yorkdale boutique reinforces that momentum. For Ami Paris, the location provides immediate exposure to the Greater Toronto Area’s diverse, fashion-forward customer base and positions the brand within a setting where global labels continue to find success.

Designing a Paris-Inflected Space

Inside, the boutique mirrors the refined, contemporary identity that has come to define Ami Paris. The brand has recreated aspects of its Paris flagship, using materials such as Euville stone, beige limewash, and dark oak wood to establish an environment that is both soft and architectural. The striped parquet floor, a nod to Ami’s signature stripes, adds warmth and movement to the room, while champagne gold accents and multiple mirror surfaces create a residential feel reminiscent of an elegant Paris apartment.

The design concept reflects the brand’s approach to luxury, which is guided by ease, authenticity, and modern simplicity. Rather than overwhelm shoppers with ornate displays, the boutique favours an atmosphere that is inviting and calm, allowing tailoring, outerwear, accessories, and footwear to stand out through craftsmanship and silhouette.

Jeff Berkowitz of Aurora Retail Group negotiated the lease on behalf of Ami Paris. Oxford Properties is the landlord of Yorkdale Shopping Centre.

Ami Paris now operates six points of sale across North America and more than 700 worldwide. The Yorkdale boutique represents the company’s first Canadian brick-and-mortar location, building on a presence through department store partners such as Holt Renfrew.

Ami Paris at the Yorkdale Shopping Centre in Toronto. Photo: Michael Muraz

A Brand Shaped by Paris and Guided by Its Founder

Ami Paris was founded in 2011 by Alexandre Mattiussi, whose experience designing menswear for Dior, Givenchy, and Marc Jacobs shaped his interest in creating a pragmatic, articulate wardrobe. The label’s name, meaning “friend” in French, captures the brand’s ethos of warmth, sincerity, and accessibility. Mattiussi sought to build a house that blended classic tailoring with contemporary ease, resulting in collections that feel polished but approachable.

The brand gained early recognition for its relaxed silhouettes, minimalist palettes, and the now-famous Ami de Coeur logo, which has become one of the most recognizable graphic signatures in contemporary fashion. Ami began as a menswear label but has expanded seamlessly into womenswear, offering coordinated styles that share a common language of understated Parisian chic.

Growth accelerated after a fund associated with Sequoia Capital China acquired a majority stake in 2020. With support behind retail expansion, Ami Paris has opened flagship locations in cities including Tokyo, Seoul, London, Hong Kong, New York, and Hamburg. Sales now exceed three hundred million euros, and the company continues to strengthen its international presence.

Ami Paris at the Yorkdale Shopping Centre in Toronto. Photo: Michael Muraz

Yorkdale’s Role in the Brand’s Global Strategy

The selection of Yorkdale for Ami Paris’s first Canadian store aligns with a broader pattern among global luxury brands entering Canada. Yorkdale’s performance metrics, from high sales volumes to its wide-reaching customer catchment area, have made it a priority destination for international brands seeking physical visibility. The centre has become one of the most competitive retail environments in Canada, and its ongoing expansion into premium fashion has attracted recent openings from Creed Fragrance, Oliver Peoples, and Stone Island.

The Ami Paris Yorkdale boutique benefits from its proximity to these brands, placing it among a cluster of retailers that draw both local shoppers and international visitors. For consumers who already follow the brand through its global campaigns or online presence, the boutique presents a chance to interact with the collections in a physical setting that mirrors the aesthetic of its Paris flagship.

The store complements the brand’s Canadian online platform, amiparis.com/en-ca, which offers a full range of products for national customers. Together, the physical and digital channels establish the foundation for future expansion in Canada.

Ami Paris at the Yorkdale Shopping Centre in Toronto. Photo: Michael Muraz

Fall Winter 2025 Collection Debuts in Toronto

The opening coincides with the launch of the Fall Winter 2025 collection, which serves as the boutique’s inaugural display. Shot in Paris by photographers Angelo Pennetta and Hedi Stanton, the campaign highlights the brand’s focus on relaxed tailoring, gentle textures, and silhouettes that balance ease with structure.

The collection’s palette emphasizes soft pastels, warm neutrals, and charcoal grey. Fabrics such as satin, flannel, poplin, and shearling add richness to oversized coats, poplin shirts, tailored trousers, and knitwear. Shoes and accessories, including supple trainers and leather goods, complete the line. Together, these pieces reflect the brand’s DNA, which prioritizes comfort without sacrificing sophistication.

Alongside the fall collection, the boutique carries the Ami Holidays assortment, designed for the winter festive season. The seasonal offering introduces giftable accessories and elevated apparel that align with the brand’s view of celebratory dressing.

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Roots reports strong third quarter Fiscal 2025 results

Roots Outpost at 1096 Yonge Street in Toronto. Photo: Craig Patterson

Roots, a premium outdoor-lifestyle brand, announced Wednesday financial results for its third quarter ended November 1, 2025.

Meghan Roach
Meghan Roach

“Roots delivered strong third-quarter results, with growth driven by consumers’ positive response to our products, enhanced marketing efforts, and improved in-store execution,” said Meghan Roach, President and Chief Executive Officer of Roots Corporation.

“Even in a dynamic retail environment, our heritage, quality, and focus on comfort continued to differentiate the brand and drive engagement across our omnichannel platform. We remain disciplined in execution and committed to strengthening the foundations of the brand to support long-term value creation.

“While early in the fourth quarter, we continue to experience positive trends.”

Third Quarter Highlights

  • Sales were $71.5 million, a 6.8% increase compared to $66.9 million in Q3 2024
    • DTC sales were $56.8 million, a 4.8% increase compared to $54.2 million in Q3 2024
    • DTC comparable sales growth was 6.3%
  • Gross margin was 60.8%, up 80bps compared to 60.0% Q3 2024
    • DTC gross margin of 65.4%, up 140bps compared to 64.0% in Q3 2024
  • Net income totaled $2.3 million, decreasing 4.5% from $2.4 million in Q3 2024
    • Excluding the impacts from the revaluation of cash settled instruments under our share-based compensation plan, net income would have been $2.4 million, improving 1.5% compared to $2.3 million in Q3 2024
  • Adjusted EBITDA amounted to $7.5 million, a 5.3% improvement from $7.1 million in Q3 2024
    • Excluding the impacts from the revaluation of cash settled instruments under our share-based compensation plan, Adjusted EBITDA would have been $7.6 million, improving 7.3% compared to $7.0 million in Q3 2024
  • Net debt reduced 5.9% year-over-year to $44.1 million
  • The Company repurchased 415,200 common shares for $1.3 million under its normal course issue bid

Established in 1973, Roots is a global lifestyle brand. Starting from a small cabin in northern Canada, Roots has become a global brand with over 100 corporate retail stores in Canada, two stores in the United States, and an eCommerce platform, roots.com. It has more than 100 partner-operated stores in Asia, and it also operates a dedicated Roots-branded storefront on Tmall.com in China.

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Premier Protein Debuts Holiday Chocolate Mint Shake in Canada

Photo: Premier Protein

Premier Protein is giving Canadian shoppers a timely seasonal option with the launch of its limited-edition Chocolate Mint High Protein Shake, now available at Walmart in stores and online. The flavour arrives as the busy holiday period begins, aligning with higher demand for convenient, better-for-you beverages that can be consumed on the go. With interest in high-protein, low-sugar products continuing to rise across the country, the release supports Premier Protein’s expanding presence in Canada’s convenient-nutrition category.

The shake is positioned as an indulgent but balanced choice, blending rich chocolate with a refreshing mint note. While many holiday treats lean into higher sugar and calories, Premier Protein maintains its established nutritional profile, offering 30 grams of protein, 1 gram of sugar, and 21 essential vitamins and minerals. This keeps the seasonal option consistent with the brand’s broader positioning around everyday wellness, practicality, and accessible nutrition.

New Flavour Supports Seasonal Routines

Premier Protein notes that the shake can be enjoyed on its own or poured into morning coffee for a holiday-themed “proffee” moment, a trend that has gained traction with Canadian consumers looking to add protein to their coffee routines. The brand frames the product as a simple way to stay energized through seasonal activities such as holiday shopping, skating, decorating, or commuting during the colder months. That framing fits with Premier Protein’s Canadian marketing strategy, which focuses on helping consumers stay on track with daily wellness habits even during the busiest periods of the year.

The timing is deliberate. December is a month when Canadians are often seeking portable meal replacements or quick snacks as holiday calendars fill up. By introducing a flavour that evokes the season and aligns with these needs, Premier Protein reinforces its presence among shoppers looking for both convenience and taste.

Image: Premier Protein

Expanding Retail Availability Through the Season

Walmart is the second major Canadian retailer to launch the Chocolate Mint High Protein Shake, priced at $14.47 for a four-pack in stores and $12.98 online. Costco was the first, where Canadians will find an eighteen-pack for $44.99 in stores and $47.99 online. Select Real Canadian Superstore locations will begin stocking the flavour in January, extending its seasonal run into the new year.

The multi-channel rollout reflects Premier Protein’s strong national coverage. The brand maintains wide distribution across major grocery, mass, drug, and club chains including Loblaws, Safeway, Metro, Sobeys, Fortinos, Zehrs, Save-On-Foods, Jean Coutu and others. Online availability through Walmart.ca, the brand’s Canadian website, and additional e-commerce retailers ensures access in regions without dense physical distribution.

Premier Protein’s ability to secure broad placement for limited-time items highlights its scale in the Canadian market, where its ready-to-drink shakes are consistently positioned among the top sellers in the protein beverage category.

A Leading Brand With International Reach

Premier Protein, part of Premier Nutrition Company, is owned by BellRing Brands, a publicly traded consumer brands company listed on the New York Stock Exchange under the ticker BRBR. BellRing originated within Post Holdings before being spun out as a standalone entity. Premier Nutrition Company also manages Dymatize and PowerBar, operating within the proactive wellness and convenient-nutrition space.

The brand’s global reach and investments in manufacturing, including production partnerships such as SunOpta in Texas, have supported increased capacity and helped meet growing North American demand. These efforts have enabled Premier Protein to bring seasonal products to market more consistently, including in Canada, where it maintains a dedicated web presence and localized social media channels.

Tailored Positioning for the Canadian Consumer

In Canada, Premier Protein emphasizes optimism, practicality, and energy, encouraging consumers to view its shakes as part of everyday routines rather than niche athletic supplements. Canadian marketing highlights simple usage occasions such as breakfast, post-workout recovery, or mid-afternoon fuel. The brand’s Canadian portfolio includes its signature 30-gram protein shakes in flavours such as Chocolate, Vanilla, Caramel, Strawberries and Cream, Bananas and Cream, Café Latte and seasonal offerings including Pumpkin Spice.

The introduction of Chocolate Mint fits into this approach, offering a festive flavour that remains aligned with the brand’s low-sugar and high-protein focus. With increased interest in holiday-inspired beverages each year, the shake positions itself as a better-for-you alternative that still aligns with seasonal taste preferences.

The ready-to-drink protein shake category has expanded significantly in Canada, with more consumers adopting portable nutrition options that can support busy daily routines. Premier Protein continues to lead the category with strong sales and widespread retail visibility. Seasonal releases like Chocolate Mint help drive additional engagement and attract new consumers who may be sampling the brand for the first time.

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Costco Tops Canadian Grocery Rankings for 2025

Rendering of the Kelowna Costco Wholesale Image Credit: Submitted/City of Kelowna

For the second consecutive year, Costco has claimed the top spot in a nationwide assessment of Canadian grocery retailers, reflecting a consumer landscape still shaped by tight budgets and shifting expectations. The ranking, released in dunnhumby’s latest Retailer Preference Index, draws from a combination of shopper sentiment and financial data, offering a detailed look at how Canadians continue to navigate an environment where affordability remains paramount.

The index evaluates the 28 largest grocery banners in the country across conventional stores, discount formats, superstores, and warehouse clubs. Together, these retailers represent nearly the entire grocery market in Canada, which dunnhumby estimates at about $115 billion annually. In this year’s results, Costco was again followed by Maxi, Food Basics, and Real Canadian Superstore. No Frills, Super C, Walmart, FreshCo, and Dominion completed the top nine, forming a group of retailers that dunnhumby identifies as excelling in areas that matter most to consumers in 2025.

The report paints a portrait of a market where Canadians remain cautious about household spending. The cost of groceries has stabilized compared with the steep inflationary spikes of the past two years, but shoppers in many parts of the country report that their budgets have not fully recovered. Bargain hunting has become a daily routine, and retailers that respond with compelling value have seen their efforts rewarded through increased loyalty and stronger long-term results.

Why Value Still Reigns

Dunnhumby’s analysis hinges on several pillars that measure customer perception. Among these, the value pillar, which captures pricing, promotions, and rewards, has grown to dominate the index. It accounts for 44 percent of the outcomes that determine a grocer’s position, reflecting a pronounced shift in consumer sentiment that favours tangible savings over other features that once served as competitive differentiators.

Matt O’Grady, President of the Americas for dunnhumby, said Canadians continue to prioritize practical value even as economic indicators show modest signs of improvement.

“Even though inflation and interest rates have dropped, Canadians still face affordability issues and are focused on value and savings more than last year,” Mr. O’Grady said. “This RPI report gives retailers important data and insights to adjust their customer strategies and offerings to better help their customers meet their needs.”

This focus on value has contributed to widening gaps between top-ranked retailers and the rest of the sector. Shoppers now allocate, on average, 29 percent of their grocery spending to retailers in the top tercile of the index. Retailers in the lowest tercile receive about 17 percent. The divide suggests that Canadians are making clearer distinctions between banners based on perceived savings and promotional relevance.

Dunnhumby’s data also shows that the top performing group grew at a significantly faster pace over the last five years, with long-term revenue growth roughly double that of the lowest-ranked retailers. The findings indicate that shifts in consumer behaviour are not temporary adjustments but rather enduring patterns reshaping competition.

Costco Rexdale NW Toronto (Image: Costco)

A Power Shift in Quebec

While Costco continues to lead nationally, the most significant regional change occurred in Quebec, where Maxi surpassed the warehouse club chain to become the province’s top grocery retailer. Quebec consumers have heightened sensitivity to price, and Maxi’s strategy of offering sharp pricing, effective promotions, and consistent savings allowed it to outpace Costco on measures tied closely to household budgeting.

Maxi also scored higher on speed and convenience, which dunnhumby ranks as the fourth most important pillar. The result highlights how regional shopping preferences can subtly diverge. Quebec shoppers respond strongly to efficient store formats where they can complete trips quickly, especially when they see clear savings on everyday essentials.

Changes in What Canadians Value

While the pursuit of savings dominates decision making, dunnhumby’s analysis does not overlook other components of the Canadian grocery experience. Assortment quality ranked as the second most influential pillar, contributing 31 percent to customer outcomes. Digital services followed at 11 percent. Both pillars, however, declined in perceived importance this year. The shift suggests that shoppers are increasingly willing to forgo premium products or sophisticated online tools if doing so allows them to stretch their grocery budget further.

Speed and convenience accounted for 8 percent of the index, and operational consistency made up the remaining 6 percent. These measures matter, but their reduced impact speaks to a broader theme of practical prioritization. Canadian grocery habits have grown more disciplined, with households gravitating toward banners that offer predictable ways to save.

How Conventional Chains Are Fighting Back

Although discount and superstore formats dominate the top of the ranking, several conventional grocers have adapted in ways that allow them to remain competitive. Zehrs Markets, Save-On-Foods, Safeway, and Thrifty Foods were recognized for strategies that mitigate their disadvantages on base prices. These retailers rely on finely tuned loyalty programs, targeted promotions, and assortment planning that avoids overspending on premium categories.

Dunnhumby notes that these tactics help conventional chains offer value that feels relevant and personalized, without forcing structural changes to their pricing models. By balancing disciplined assortment strategies with well-designed loyalty programs, these banners maintain their positioning among consumers who value both quality and affordability.

Even though Amazon is not included in the official ranking due to its lack of physical stores in Canada, its role in grocery shopping remains significant. About 30 percent of Canadians purchase groceries from Amazon, a figure that underscores the platform’s continued relevance. If Amazon were included, it would rank eighth overall, down from second last year. The decline stems from rising prices and a shift in shopper priorities that makes digital convenience less compelling than it once was. Despite this drop in ranking, Amazon remains a formidable player. 

Understanding the RPI

The Retailer Preference Index stands out for its dual approach, combining financial performance with detailed measurement of customer sentiment. The dunnhumby report relies on a survey of 6,000 Canadian shoppers, alongside financial data that incorporates market share metrics, near-term revenue trends, and long-term sales growth. The methodology allows for a nuanced understanding of what drives loyalty and performance in a sector that has grown more complex with the rise of e-commerce, evolving household dynamics, and the proliferation of discount formats.

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Moneris becomes official commerce solutions partner of the Canadian Premier League

Photo- Canadian Premier League
Photo- Canadian Premier League

Canadian Soccer Business (CSB) is launching a new national partnership with Moneris Solutions Corporation, a leading Canadian commerce solutions provider, as official commerce solutions partner of the Canadian Premier League (CPL).

The partnership connects Moneris to the Canadian soccer community from coast to coast and supports the League’s continued commitment to growing the game and strengthening its presence in communities across all eight CPL markets, said the company.

Michael Beckerman
Michael Beckerman

“We’re thrilled to welcome Moneris into the CPL family,” said Michael Beckerman, Chief Commercial Officer, Canadian Soccer Business. “Their commitment to Canadian communities aligns naturally with the CPL’s identity, and this partnership opens the door to new ways of engaging supporters across the nation. From fresh integrations to expanded fan touchpoints, we’re excited about the momentum this brings to the CPL and the opportunities it will create for our supporters moving forward.”

Moneris said it will activate with the League through a series of high-visibility integrations and fan-focused initiatives that begin this month. To celebrate the launch, the CPL and Moneris will run a national fan giveaway that will award select supporters with CPL prize packs, including a club jersey of their choice and/or a gift card for tickets and merchandise.

Beginning in 2026, the Moneris logo will feature on the sleeve of every CPL club jersey, a powerful reflection of the shared commitment to driving the growth of Canadian soccer and commerce across all League markets. Moneris will also participate in the 2026 season’s marquee event, the CPL Final, with an on-site presence and supporter engagement opportunities.

Mia Huntington
Mia Huntington


“Soccer’s strong and growing popularity in Canada represents an incredible opportunity to unite communities and inspire progress,” said Mia Huntington, Chief Sales and Marketing Officer, Moneris. “This partnership reflects our commitment not only to powering Canadian commerce, but also to supporting the sport and the communities and businesses that thrive around it. As the game continues to capture the nation’s attention, we’re proud to stand alongside the Canadian Premier League during this exciting chapter for Canada.”

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Abercrombie & Fitch Co. expands global unified commerce strategy with Nedap partnership

Abercrombie & Fitch
Abercrombie & Fitch

Nedap, a global leader in item-level inventory visibility, is partnering with retail giant Abercrombie & Fitch Co., a leading global omnichannel specialty retailer of apparel and accessories based in New Albany, Ohio. 

The retailer will see Nedap’s iD Cloud platform implemented across numerous Abercrombie & Fitch stores in North America, Europe, the Middle East, Africa (EMEA) and the Asia-Pacific region (APAC).

Following a successful 15-store pilot, Abercrombie & Fitch Co. began deploying Nedap’s iD Cloud Store solution in June, with full implementation scheduled to be completed later this month. The rollout underscores A&F Co.’s strategic priority to improve omnichannel fulfillment, inventory accuracy and on-shelf product availability, said the retailer.

Lauren Morr
Lauren Morr

“Inventory visibility is crucial to serving our customers seamlessly, both digitally and in-store,” said Lauren Morr, Senior Vice President of Digital Operations at Abercrombie & Fitch Co. “We chose Nedap not only for their innovative and advanced technology, but also because of the dedicated expertise within their iD Cloud community. The partnership enables us to optimize our operations with increased inventory accuracy and visibility.” 

Abercrombie & Fitch Co. said its deployment of iD Cloud Store streamlines essential store processes, including in-store order fulfillment and inventory replenishment from the back-of-house to the front-of-house, enhancing overall productivity. By successfully scaling the software in such a short timeframe, this new strategy will advance omnichannel performance and position Abercrombie & Fitch Co. for long-term success with increased inventory visibility.

Bruno Bakker
Bruno Bakker

“Abercrombie & Fitch Co.’s transformation through the years has been remarkable, and their renewed strength as a business is a testament to bold decisions and clear strategy,” said Bruno Bakker, director of iD Cloud North America at Nedap. “With iD Cloud, they are now taking the next leap forward, elevating their already strong omnichannel capabilities to an entirely new level. Together, we are building a future-proof retail foundation where real-time inventory visibility fuels efficiency, customer satisfaction, and growth worldwide.”

Abercrombie & Fitch Co. operates iconic brands including Abercrombie & Fitch, abercrombie kids, Hollister, Gilly Hicks and YPB.

Nedap is a global leader in item-level inventory visibility for retail, with over 20,000 stores contracted to its iD Cloud platform.

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Groupe Dynamite Posts Strong Q3 as Growth Accelerates

Dynamite at Royalmount in Montreal. Photo courtesy of Dynamite

Groupe Dynamite is closing out its first year as a publicly traded company with exceptional third quarter results that signal ongoing strength across both banners in Canada and the United States. The findings come from a detailed new report authored by Martin Landry, Managing Director and Consumer and Retail Analyst at Stifel, who highlights revenue growth of about 40 percent year-over-year to approximately $363 million.

The lift came from comparable store sales growth close to 30 percent on a constant currency basis. Analysts attribute the sustained momentum to leaner inventories, quicker product cycles and a strong consumer response to Garage’s growing “off-duty” athleisure assortment. According to the Stifel report, these factors produced one of the strongest quarterly top-line performances since before the pandemic.

Martin Landry
Martin Landry

The company’s sales trajectory remains favourable heading into the important holiday trading period. Stifel notes that early fourth quarter indicators, including Black Friday performance, exceeded expectations for both traffic and basket size. The analyst report also references recent card-spend data showing a notable surge in apparel sales in recent weeks, suggesting that Groupe Dynamite is well positioned to continue its momentum through the end of the fiscal year.

Profitability Reaches Highest Level in Three Years

Profitability was the standout theme in the quarter, with several financial metrics reaching multi-year highs. Gross margin expanded by 310 basis points to 66.1 percent, supported by lower freight costs, improved merchandise margins and fewer markdowns due to extremely tight inventory control. At the same time, SG&A expenses were leveraged effectively, declining by 340 basis points as a percentage of sales to 25.9 percent. Together these gains produced an EBITDA margin of 40.2 percent, the highest reported in more than three years.

Earnings per share also beat expectations. Adjusted EPS came in at $0.72, which represented a 76 percent increase year-over-year and exceeded Stifel’s forecast of $0.57. As a result of the strong performance, management raised full-year EBITDA margin guidance by 325 basis points at the midpoint to between 35 and 37 percent. The upward revision underscores a fiscal year in which operational efficiencies, rapid product turns and improved pricing strategies have combined to drive meaningful margin expansion.

Store Relocations Provide Multi-Year Growth Runway

Stifel highlights Groupe Dynamite’s real estate strategy as a key driver of future growth. The retailer continues to relocate stores from what it classifies as tier four and tier five malls into stronger tier one to tier three centres. According to the report, sales in upgraded centres can be four times higher than in previous locations with similar square footage. The analyst notes that about 40 percent of the company’s stores continue to operate in lower tier malls, which leaves considerable opportunity for relocations, upgrades and new-format openings across North America.

The shift into more affluent and higher traffic trade areas is also helping the banners connect with customers who have shown resilience to pricing increases. With extremely short product lead times and an average of 46 days of inventory on hand, Groupe Dynamite is reducing fashion risk and maintaining a faster reaction cycle than many competitors. The tight inventory model is cited as a meaningful strategic advantage that allows the retailer to test trends quickly, reduce markdown exposure and maintain stronger full-price sell-through rates.

Garage at CrossIron Mills
Garage at CrossIron Mills. Photo: Jessica Finch

Expansion Plans for FY26 and FY27

Looking ahead, the company plans to continue expanding its store network at a steady pace. Management is guiding to between 18 and 20 gross store openings in North America in FY26. Stifel expects high single digit same-store sales growth next year driven by traffic gains, improved conversion and additional pricing optimization. The firm is modelling revenue of $1.50 billion in FY26 and $1.75 billion in FY27. Earnings per share are forecast to reach $2.60 in FY26 and $3.20 in FY27, reflecting operational leverage and continued margin improvement.

Gross margin expansion is expected to continue into next year, aided by lower tariffs, distribution improvements and further supply chain efficiencies. SG&A is also projected to benefit from greater scale as the retailer grows larger, modernizes store fleets and continues optimizing labour models to match traffic patterns more precisely.

Capital Markets Update and Special Dividend

The report also points to several developments on the capital markets front. The board has declared a $2.30 special dividend, providing liquidity to the CEO while also potentially delaying a secondary share offering. Stifel notes that a significant number of employees are now shareholders, which management believes has positively influenced performance and execution over the past year.

Valuation remains a discussion point. Stifel argues that the current trading multiple, which it estimates at about 32 times calendar 2026 EPS, is justified given that EPS growth is running above 50 percent year-over-year. The firm’s new target price of $96 is based on a blend of 30 times FY27 EPS, 20.5 times FY27 EBITDA excluding IFRS 16, and a discounted cash flow model using an 8 percent discount rate. The sharp upward trajectory in the company’s share price over recent months, illustrated in the report, reflects growing investor confidence in the retailer’s multi-year margin expansion story and its strategic repositioning of stores.

Groupe Dynamite’s first year on the public markets has shown that disciplined inventory management, thoughtful real estate strategy and a strong understanding of its core customer can translate into robust sales growth and record profitability. With continued relocation opportunities, growing brand recognition and strong consumer demand for athleisure and casual apparel, analysts see a long runway for the retailer as it moves into FY26.

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Groupe Dynamite delivers “unprecedented” Q3 results on “exceptional” 31.6% comparable store sales growth

Retailers continue to face challenges on Edmonton’s Whyte Avenue but hospitality sector thrives

Edmonton's Whyte Avenue. Photo: Mario Toneguzzi
Edmonton's Whyte Avenue. Photo: Mario Toneguzzi

The interim head of the Old Strathcona Business Association says hospitality businesses along Edmonton’s Whyte Avenue are benefiting from strong event-driven traffic, while some retailers are feeling pressure from rising costs.

Andrea Donini
Andrea Donini

Andrea Donini, the association’s interim executive director, said special events are playing a significant role in supporting restaurants, bars and the area’s nightlife venues. 

“Our nightlife economy is going at quite a clip,” she said, adding that hospitality businesses are “generally doing quite well,” especially ahead of the holiday season.

Retailers, however, are reporting mixed results.

Donini said some businesses saw the beginning of Christmas shopping just recently while others experienced stronger sales in November. 

She said retail operators “are feeling a little bit more of a pinch,” pointing to tariffs, increased costs for bringing in products and higher expenses tied to city infrastructure and taxes.

Despite concerns about vacant storefronts, Donini said the observed vacancy rate on Whyte Avenue has remained steady. She estimated the overall vacancy rate at about 20%, though much of that is tied to second-floor and office space rather than retail. 

Large, visible properties contribute to the perception of higher vacancies, she said, citing the former Army & Navy building and the Princess Theatre as examples of prominent sites still awaiting redevelopment or sale.

She said redevelopment challenges, heritage considerations and the scale of some buildings can create hesitance among prospective tenants. At the same time, she noted that new mixed-use and residential projects are underway, which she expects will “add to our vibrancy at street level” over time.

Donini described Whyte Avenue as a distinctive shopping district with a strong local customer base. 

“There isn’t anything else like it in the city,” she said. “There’s a unique ambiance that really is a draw and always will be.”

She added that the area benefits from “a very supportive surrounding community” that values shopping local, along with property owners who are open to diverse business ideas.

Edmonton's Whyte Avenue. Photo: Mario Toneguzzi
Edmonton’s Whyte Avenue. Photo: Mario Toneguzzi

Events and arts activity remain key contributors to the district’s appeal, she said. 

Old Strathcona has long been known for theatre and cultural programming, and Donini said the volume of activities listed on the association’s website demonstrates how frequently people are drawn into the area.

 “Every single one of those events brings people into the area to visit a restaurant, stop at a café before a show, or pick something up as they go by,” she said. 

Edmonton's Whyte Avenue. Photo: Mario Toneguzzi
Edmonton’s Whyte Avenue. Photo: Mario Toneguzzi

Events provide “tremendous” exposure for businesses and are an important part of maintaining area vibrancy.

Donini described the district as welcoming and familiar to visitors. 

“It’s such an old haunt kind of place,” she said, adding that there is “something for everybody.”

There are about 600 businesses within the Association’s geographic area.

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  • Edmonton’s Whyte Avenue Seeing Vacancies as Optimism Grows for Future Vibrancy Post-Pandemic [Interviews]
Edmonton's Whyte Avenue. Photo: Mario Toneguzzi
Edmonton’s Whyte Avenue. Photo: Mario Toneguzzi
Edmonton's Whyte Avenue. Photo: Mario Toneguzzi
Edmonton’s Whyte Avenue. Photo: Mario Toneguzzi
Edmonton's Whyte Avenue. Photo: Mario Toneguzzi
Edmonton’s Whyte Avenue. Photo: Mario Toneguzzi

Quebec consumers overwhelmingly support better access to ready-to-drink spirit-based beverages

Photo: Ron Lach
Photo: Ron Lach

In response to Bill 11, which amends various provisions primarily for the purpose of reducing regulatory and administrative burdens, representatives of the spirits industry and the food retail sector welcome the Quebec government’s willingness to simplify the regulatory framework, but deplore the fact that their request to expand the sale of ready-to-drink spirits in supermarkets and convenience stores was not accepted.

“Currently, only spirit-based ready-to-drink beverages must be sold at the SAQ, while malt, wine, and cider-based beverages, despite having comparable alcohol content, are available in grocery stores and convenience stores,” according to a news release.

“This arbitrary distinction, based solely on the manufacturing process, deprives consumers of fair access and creates a major competitive distortion at the expense of spirits producers. Therefore, Spirits Canada, the Union québécoise des microdistilleries (UQMD), the Association des détaillants en alimentation du Québec (ADA), and the Retail Council of Canada – Quebec (RCC) are asking the Quebec government to promptly rectify this situation.

A recent Léger poll conducted on behalf of Spirits Canada reveals overwhelming support among Quebecers for the sale of ready-to-drink spirit-based beverages in grocery stores, supermarkets and convenience stores. Among consumers of these products, 91% of regular consumers and 77% of occasional consumers say they are in favour of this change.

Cedric Salibi
Cedric Salibi

“The message from Quebecers is very clear: they want choice, consistency, and fairness,” said Cedric Salibi, Senior Vice President, Policy and Analytics at Spirits Canada. “The alcohol content of ready-to-drink spirit-based beverages is comparable to that of other alcohol-based beverages and offers unparalleled diversity. It is time to modernize outdated regulations and allow the sale of ready-to-drink spirit-based beverages in grocery stores and convenience stores in Quebec.” 

The UQMD supports this reform, which would strengthen Quebec’s domestic spirits sector and contribute directly to the economic vitality of the regions.

Nicolas Bériault
Nicolas Bériault

“According to a study conducted earlier this year by the UQMD, the sale of ready-to-drink beverages in grocery stores and convenience stores would generate $15.1 million in additional revenue for our members,” said its president, Nicolas Bériault. However, at present, ready-to-drink beverages with the same alcohol content are sold through two different sales channels simply because some are spirit-based and others are malt- or wine-based. It makes no sense: consumers buy a container and an alcohol content, not a list of ingredients. This kind of regulatory easing would offer a great opportunity to modernize an outdated law in our sector.”

In addition to the UQMD, the two main retail trade associations have expressed their support for expanding their offerings to include ready-to-drink spirit-based beverages, in the same way as other categories of ready-to-drink beverages.

Michel Rochette
Michel Rochette

“Quebecers’ shopping habits have changed over the past few years; this is the natural evolution of a vibrant market,” explains Michel Rochette, President of the Retail Council of Canada – Quebec. The spirits segment has grown significantly, both in terms of quality and reputation, in Quebec and elsewhere in the country. In this context, it is only natural that grocery store offerings should adapt as well. The arrival of ready-to-drink spirit-based beverages would be a logical development of the current offering and would help to rectify a situation that has become difficult to justify.

Pierre-Alexandre Blouin
Pierre-Alexandre Blouin


Pierre-Alexandre Blouin, president and CEO of the ADA, is delighted that Quebecers are open to expanding the sales networks for these products. “If there is one type of business that listens to its customers’ needs, it is grocery stores. The survey conducted for Spirits Canada confirms that consumers want greater and more convenient access to these ready-to-drink beverages, and as local stores, grocery stores are ideally suited to meet this demand.”

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STACKT launches 6th annual Holiday Hills (Photos)

STACKT market has kicked off its sixth-annual Holiday Hills, featuring over 100 local vendors and transforming two city blocks into a winter wonderland until December 28. 

New this year, the festival embraces a nostalgia-driven rebrand, blending classic holiday traditions with modern experiences, all free to the public. Guests can rediscover beloved holiday treats, vintage-inspired cocktails, classic movies, and a refreshed market atmosphere that brings favourite holiday memories to life.

The market is located at 28 Bathurst Street in Toronto.

Key Highlights:

  • Holiday Market Vendors: Over 100 local vendors, including artisans, small-batch makers, and seasonal pop-ups offering handcrafted gifts, exclusive holiday drops, and rotating creative storefronts. 
  • Brand Pop-Ups & Activations: Seasonal brand activations that complement the market experience, including pop-ups from Pine Sol, Ocean Spray, Arc/teryx and more. 
  • Holiday Installations & Signature Moments: Oversized inflatables, sparkling evergreen décor, storybook window vignettes, a 120-foot immersive light tunnel, a towering Christmas tree, and the scent of chestnuts roasting on-site.
  • Festive Eats & Mixology Experiences: Seasonal cocktails, new winter patio pop-ups, and the first-ever Speakeasy Espresso Martini Bar. Comfort favourites include Sundays Pasta Lab, Las Muns empanadas, and Mondays Off sliders, plus share-worthy hot chocolate flights.
Emily Farncomb
Emily Farncomb

Emily Farncomb, Director of Marketing at STACKT, said nostalgia plays a powerful role during the holidays, connecting people to moments of warmth, joy, and tradition. 

“We wanted to tap into that emotional layer with this year’s Holiday Hills rebrand, while delivering an experience that feels modern yet reflective of STACKT’s creative identity. Visually, we took things in a new direction, drawing inspiration from retro Bauhaus design. The shapes, graphic elements, and clean lines offer a modern twist on traditional holiday motifs. It’s familiar, but elevated, and it reflects the balance we were aiming for across the site: playful, yet design-forward,” she said.

“We also introduced thoughtful, hands-on experiences that reference past traditions, like gingerbread house workshops and carolling performances. These small, but meaningful moments, paired with holiday music, scents, decor and more, help evoke a sense of nostalgia without relying on cliché, and they give guests something personal to connect with.”

Farncomb said curation for Holiday Hills always starts with a simple question: What will make this a fun and memorable experience for our guests, something worth coming back to?

“This year, we’ll see over 100 local makers, artisans, and rotating pop-ups over the course of Holiday Hills. That includes returning favourites like Cracked Knot, which has earned a loyal following, as well as a wide range of new brands offering everything from handcrafted goods to personalized gifts, like photo macarons or custom-printed apparel. We were also excited to welcome Fable to the marketplace this season; their beautifully crafted homeware pairs perfectly with the one-of-a-kind gifts and handmade pieces found across Holiday Hills. Aside from the storefronts, weekly vendor markets play a huge role, keeping the experience feeling dynamic and fresh,” she said.

“The idea was to capture the diversity and creativity of the city while making it easy for guests to discover something unique, whether they’re gift shopping, supporting local, or just wandering through. It’s about more than just shopping, though. Seasonal food vendors and engaging experiences all help to shape the atmosphere and give the market its energy. 

“Holiday Hills is designed to feel fun, lively and ever-changing, so guests can visit more than once with the promise of discovering something new each time.”

Farncomb said this year, Holiday Hills is all about contrast – mixing the cozy, familiar feeling of classic holiday traditions with unexpected moments of creativity and engagement for guests

“The nine oversized inflatable installations bring bold, memorable visuals to our site. They’re easy to spot, fun to explore, and encourage visitors to pause and engage. The Tunnel of Lights remains a key feature and has been upgraded this year with even more lights, as well as a new scent activation through our partnership with Pine-Sol, adding a sensory twist to a beloved experience that guests look forward to each year,” she said.

“At the same time, we’ve also added more intimate moments, including carolling performances, roasted chestnuts, and elevated patio settings. These elements create a layered experience that reflects Holiday Hills’s identity and give every guest something different to connect with.”

Farncomb said the expanded food and beverage offerings have played a big role in shaping this year’s Holiday Hills. They’ve added variety and more ways for people to enjoy the festival.

“The Speakeasy Espresso Martini Bar is one of the new highlights – a cozy, tucked-away concept that brings a bit of sophistication and surprise to Holiday Hills. We’ve also added a new outdoor patio called Finlandia Winter Retreat and introduced more fire pits throughout the site, making it easier for guests to gather, relax and stay warm while enjoying the outdoors,” she said.

“Food offerings range from comfort food classics to shareable, festive treats –  including vendors like Sundays Pasta Lab, Las Muns (empanadas), and Mondays Off (sliders). We’ve also leaned into social and seasonal offerings,  like hot cider and limited-time menu items, perfect for groups, families, or date nights. And of course, Tiny Tom’s Donuts,  a nostalgic staple for many, taps into a sense of tradition that’s both familiar and comforting.

“Together, the expanded F&B program rounds out the entire Holiday Hills experience, giving people more reasons to stay, explore, and spend the evening – whether they’re coming for the food, the shopping, the entertainment, or all of it combined.”

Farncomb said brand activations are a key part of bringing Holiday Hills to life. Each partnership creates meaningful, interactive moments that enhance the experience and invite guests to engage in new ways. 

“Each partnership is thoughtfully integrated into the fabric of the festival to feel purposeful and connected to the space. For example, Pine-Sol enhanced our signature Tunnel of Lights with a nostalgic scent element, transforming a fan-favourite installation into a fully sensory experience.

One of our most exciting collaborations this year was with The Original Santa Claus Parade. Their involvement added an entirely new layer to our opening weekends, featuring live performances, a marching band, and a visit from Santa himself,” she said.

“Another standout partnership was with Interac, which supported four of the vendor markets with a $10 gift card incentive for guests who spent $30 or more with participating small businesses – a simple but effective way to encourage local shopping and community support.

“We also hosted weekly sampling activations with a range of brands, giving visitors something new to taste or try each weekend and adding an element of discovery to every visit.

“We’re always intentional about creating a space where emerging and established brands can share the same environment in a way that feels seamless. These partnerships create opportunities for guests to engage, discover, and interact with the brands, while fitting naturally into the flow and layered, design-forward feel of STACKT.”

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