Groupe Dynamite Inc. reported Tuesday its financial results for the fiscal year 2025’s first quarter ended May 3, 2025, indicating 13.0% comparable store sales growth in Q1 2025, over and above 16.4% in Q1 2024.
“We’re marking a milestone quarter in every sense. As we celebrate Garage’s 50th anniversary, we’re also celebrating performance that speaks for itself: 13.0% comparable store sales growth on top of last year’s 16.4%, and strong momentum carrying into Q2, with comps trending even higher. Our luxury-inspired business model continues to deliver, driven by agility, emotional connection, and a culture that shows up every day with purpose. With the launch of our inaugural ESG report and our Shared Success Program, we remain focused on building lasting value for our customers, our people, and our shareholders,” said Andrew Lutfy, Chief Executive Officer and Chair of the Board.
“This quarter, we saw what’s possible when product, marketing, and the field are fully aligned. Our collections were supported by strong storytelling across every channel—and brought to life by a community that believes in the brand, from store teams to influencers to loyal customers. With strong execution and momentum across the business, and the launch of our U.S. distribution center next quarter, we’re set to deliver even faster, sharper, and more connected brand experiences,” added Stacie Beaver, President & Chief Operating Officer.
Fiscal 2025 First Quarter Highlights
- Revenue increased by 20.0% to $226.7 million in Q1 2025, compared to $188.9 million in Q1 2024.
- Comparable store sales growth of 13.0% in Q1 2025, over and above comparable store sales growth of 16.4% in Q1 2024.
- Retail sales per square foot increased by 16.0% compared to Q1 2024, reaching $756 in Q1 2025.
- SG&A increased to $74.7 million in Q1 2025, compared to $66.2 million in Q1 2024, and adjusted SG&A as a percentage of sales decreased to 32.4% from 34.6% over the same period in Fiscal 2024.
- Operating income increased by 16.2% to $44.3 million in Q1 2025, compared to $38.2 million in Q1 2024.
- Adjusted EBITDA increased by 19.8% to $66.8 million in Q1 2025, representing an adjusted EBITDA margin of 29.5%, unchanged from the same period in Fiscal 2024.
- Diluted net earnings per share increased to $0.24 in Q1 2025, compared to $0.22 in Q1 2024 and adjusted diluted net earnings per share increased by 8.7% to $0.25 in Q1 2025, compared to $0.23 in Q1 2024.
- Real estate activity for Q1 2025 includes:
- Opening of 1 gross new store in the United States under the Garage banner
- Closure of 2 stores: 1 in the United States under the Dynamite banner and 1 in Canada also under the Dynamite banner
- Relocation of 3 stores: 1 in the United States under the Garage banner and 2 in Canada also under the Garage banner.
The table below outlines the Company’s revised financial annual guidance ranges for Fiscal 2025 replacing our previously disclosed guidance:
| Revised Fiscal 2025 Guidance | Original Fiscal 2025 Guidance | |
| Real estate activity | 18 to 20 gross new store openings; 9 to 10 net new store openings | 18 to 20 gross new store openings; 9 to 10 net new store openings |
| Comparable store sales growth | ↑ 7.5% to 9.0% | 5.0% to 6.5% |
| Adjusted EBITDA margin | 30.3% to 32.3% | 30.3% to 32.3% |
| CAPEX | $95.0 to $105.0 million | $95.0 to $105.0 million |
Groupe Dynamite operates retail stores and digital experiences under two complementary and spirited banners—GARAGE and DYNAMITE.
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- Groupe Dynamite Posts 12.3% Sales Growth for Fiscal 2024
- Groupe Dynamite introduces share buyback program after ‘breakthrough’ year
