Simon Belanger

This was their Q4, I believe.

So this would be their fiscal 2027, I believe.

So that would be the guidance for 2027.

Few comments on the call.

I don't know how.

They expect the Middle East conflict to be over soon and for oil to stabilize.

I'm not really sure how Dollarama management has a good grasp.

grasp on that but yeah i know they were pretty confident in it so they said cost will not be an issue and then they mentioned that there is some pressure on product sourcing from china and that the australia rollout is taking some time in terms of completed stores because they never roll out a re-bannering of a store until it fits the identical dollarama model so it's gonna you know they're being renovated once the once they're renovated the layout is good the product assortment is good then they'll finally turn that banner over but

Yeah, big rebound.

It got down to, I believe, the 165 range after they reported, and now it's back to 190-ish.

So, yeah, it's a very good quarter.

Yeah, I couldn't really, like I looked into this and I could not find a reason for it to fall 36%.

Because I think this guidance... Well, it was also trading at a premium.

Yeah, because it had such strong results.

And I think the 11% to 14% same-store sales growth, I think, was known to people before.

So it's just the only thing I could find that caused it to fall that much was the store counts, how they...

expected the store counts to be like too lower than they are.

And as an Aritzia shareholder, this kind of terrifies me because, I mean, something that small to cause the stock to fall 36%, like a lot of these companies have ran up so much over the last while, like as an Aritzia shareholder, like what if Aritzia comes out with a quarter that's like, you know, the market expects 22% same store sales and they post 21%.

Is it falling 20%?

Yeah, it's wild.