Groupe Dynamite spent its latest fiscal year opening and closing stores in both Canada and the U.S.

The Montreal-based women’s fashion house said it opened 20 stores, including 17 in the U.S. under the Garage brand and three in Canada under the Groupe Dynamite banner, during fiscal 2024.

Meanwhile, the company closed two stores in the U.S. and 10 in Canada. The closed locations sported both banners.

During the fourth quarter, the chain opened two new Garage stores in the U.S. and closed one Dynamite location south of the border and two others in Canada.

“Our top priority remains reinvesting in the business to drive long-term growth, as reflected in our [fiscal year 2025] capital expenditure guidance, which is primarily focused on opening new stores in high-quality real estate,” said Groupe Dynamite CEO Stacie Beaver.

The company expects to complete 18 to 20 net new store openings and nine to 10 net new store openings in 2025.

“In these volatile times, we are opportunistic in taking market share and securing new premier locations to strengthen our real estate portfolio,” said Beaver. 

That goal is conditional on the effects of U.S. tariffs and countermeasures from the American government and other countries, and Groupe Dynamite’s failure to open stores in suitable locations or negotiate lease agreements for locations in the fiscal year 2025 pipeline.

Groupe Dynamite plans to renovate 10 to 15 stores over the next fiscal year.

Photo: Groupe Dynamite

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