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Investing.com - Goldman Sachs has upgraded Groupe Dynamite Inc (GRGD:CN) from Neutral to Buy and more than doubled its price target to Cdn$56.00 from Cdn$26.00.
The upgrade comes as Groupe Dynamite has demonstrated consistent execution and strong market share growth despite an increasingly volatile macroeconomic environment marked by tariff concerns and unpredictable consumer behavior.
The retailer’s comparable sales have shown accelerating growth, increasing from 9.5% in the fourth quarter of fiscal 2024 to 13.0% in the first quarter and 28.6% in the second quarter of fiscal 2025, according to Goldman Sachs.
This growth has been primarily driven by trend-right product offerings, effective marketing initiatives, and contributions from the company’s store expansion and premiumization strategy, with its inventory model enabling quick adaptation to fashion trends while limiting markdown risk.
Goldman Sachs noted that Groupe Dynamite has successfully increased its average unit retail price above the rate of inflation without experiencing negative consumer response, and has mitigated tariff costs more effectively than previously anticipated, though potential risks remain given uncertain policy.
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