Universal Store (ASX: UNI) focuses on store expansion to boost revenue growth in FY24

Mon 15 Jan 24, 01:02 PM | Team Kalkine

Image source: Pexels

Highlights

Universal Store is an Australia-based company which is engaged in the retailing of casual youth fashion apparel

In FY23, the company witnessed 26.5% YoY growth in sales to AUD 2263.1 million

By 30 June 2024, the company intends to open 104-107 outlets

Universal Store Holdings Limited (ASX: UNI) is an ASX-listed retailer with specialization in casual women’s and men’s gifting, lifestyle, accessories and fashion. The company operates via two segments – CTC (Cheap Thrills Cycles) and Universal stores. The CTC store designs, retails and wholesales casual youth fashion apparel.

In the financial year 2023 (FY23), the company registered 26.5% YoY growth in sales to AUD 263.1 million, backed by 23.9% YoY growth in B&M sales and 2.4% YoY increase in LFL (like-for-like) sales. However, online sales in LFL dropped by 4.5% during the reported period.

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