The Globe and Mail reports in its Friday edition that Groupe Dynamite has raised its revenue forecast, expecting 25 to 27 per cent growth in 2026, up from an earlier estimate of 22 to 25 per cent, as it expands in the United States market.
A Canadian Press dispatch to The Globe reports that U.S. revenue soared 52.2 per cent in its latest quarter to $271.6-million. In comparison, Canadian revenue was down 1.9 per cent, coming in at $145.1-million.
Chief financial officer Jean-Philippe Lachance says: "The U.S. 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 executive Andrew Lutfy says that while the Canadian economy is "softer," the U.S. is "firing on all cylinders" with low unemployment and high wage growth.
Of the American consumer, Mr. Lutfy says, "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." Dynamite posted profit of $113.4-million, up from $63.9-million a year ago. The profit was $1 per diluted share for the quarter ended Aug. 1, up from 56 cents last year.
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