07:35 AM EST, 12/17/2024 (MT Newswires) -- Groupe Dynamite ( GRGDF ) on Tuesday reported higher third-quarter adjusted profit and revenue that beat estimates.

The company, which operates two women's clothing brands, said adjusted diluted net earnings increased to $43.7 million, or $0.41 per share, from $35.7 million, or $0.33 per share, last year. The result beat the consensus analyst estimate of $0.38, according to Factset.

Revenue of $258.8 million was slightly above the Factset forecast of $257.9 million and 17.5% higher than last year's $220.1 million. The growth was mainly due to a 10% increase in comparable store sales and contribution from new stores. Online revenue increased by $8.2 million or 22.9%.

"Following a strong summer season, our momentum continued into the third quarter with strong revenue and comparable store sales growth, fuelled by the success of our premier store and marketing strategies and on-trend collections," said Stacie Beaver, president and chief operating officer.

"We have also ramped up our marketing and activation activities in the U.S. and launched our innovative Dynamite 3.0 store in Montreal. These initiatives are driving brand awareness and customer acquisition, setting the stage for what we believe is a bright future of continued profitable growth for Groupe Dynamite ( GRGDF )," Beaver added.