Montreal-based fashion retailer Groupe Dynamite Incorporations announced plans to shutter up to 10 Canadian stores in fiscal 2025, primarily under its Dynamite and Garage banners, as part of a strategic shift to expand its US presence and navigate global tariff challenges.
The move comes alongside ambitions to open 20 new stores in the U.S. this year, aiming to grow its total footprint from 298 to 350 locations by fiscal 2028. Store Closures and Renovations Canadian Impact: 10 stores, mostly in Canada, will
close, while 10–15 others will be relocated or renovated. U.S. Growth: 17 new Garage stores and 3 Dynamite outlets opened in the U.S. in fiscal 2024, with plans for 18–20 net new stores in 2025. Recent Closures: In Q4 2024, the company closed 1 U.S. Dynamite store and 2 Canadian Garage locations.
Drivers of Restructuring Tariff Pressures: U.S. tariffs on apparel imports from countries like China, Bangladesh, and Vietnam have escalated costs, prompting supply chain adjustments.
Supply Chain Shifts: Groupe Dynamite is accelerating its pivot from China to manufacturers in Bangladesh , Cambodia , and Vietnam to mitigate risks.
Agility Focus: CEO Andrew Lutfy emphasized “agility” as a core strategy, mentioning the term 12 times during an earnings call, to adapt to volatile trade policies and consumer demands…
