Shareholder confidence in Groupe Dynamite Inc. took a hit Tuesday as the company’s share price tumbled 32 per cent, despite the retailer recording a significant jump in profit and revenue during its most recent quarter.

The Montreal-based apparel company’s share price dropped by $24.19 to $50.52 in early afternoon trading, after it reduced its net new store openings and missed some analysts’ expectations.

The disappointment didn’t escape CEO Andrew Lutfy.

“I could feel the energy on the line is certainly a little less enthusiastic than prior calls,…