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Highlights

  • Universal Store Holdings Limited is an Australian-based retailer specializing in casual men's and women's fashion, shoes, accessories, lifestyle, and gifting
  • In 1HFY24, UNI recorded an 8.5% YoY growth in sales to AUD 158 million
  • Bennelong Australian Equity Partners Pty. Ltd. has the highest stake in firm with a shareholding of 14.15%

Universal Store Holdings Limited (ASX: UNI) is a specialty retailer of casual youth fashion apparel with specialization in casual men's and women's fashion, shoes, accessories, lifestyle, and gifting. Principal business segments of UNI include Universal Store and CTC.

In the first half of the financial year 2024 (1HFY24), the company recorded an 8.5% YoY increase in sales to AUD 158 million. The reported period saw a rise in revenue on the back of continuous growth in the US market, acquisition of CTC, launch of the Perfect Stranger retail format and rise in the number of stores across three retail formats.

In 1HFY24, UNI’s underlying EBITDA grew by 9.2% YoY to AUD 45 million and underlying NPAT surged by 2.6% YoY to AUD 20 million.

Growth prospects for Australia’s retail sector

According to the data published by the Australian Bureau of Statistics on 11 June 24, the monthly business turnover indicator (MBIT) for the 13-industry aggregate recorded a rise of 1.5% in seasonally adjusted terms. On a yearly basis, 12 out of the 13 industries witnessed a rise in business turnover.

The largest rise in business turnover was recorded in professional, scientific and technical services, whereas the maximum fall was recorded in arts and recreation services.

Notably, in the retail sector, business turnover grew by 4.9% annually and 2.2% on a month-on-month basis.

Top 10 shareholders of UNI

The top 10 shareholders of UNI have around 62.63% shareholding in the company. Bennelong Australian Equity Partners Pty. Ltd. and Perpetual Investment Management Limited have the highest stake in the firm, with a shareholding of almost 14.15% and 8.95%, respectively.

Recent business update

Through an ASX-filing dated 17 April 2024, the company notified about the appointment of Ethan Orsini as the chief financial officer (CFO) of the firmeffective 5 August 2024. The appointment follows the resignation of Renee Jones, outgoing CFO of UNI. She was part of Super Retail Group for more than 15 years.

Outlook

In 2HFY24, the company expects to open further 1-3 Universal Store, 4-8 new Perfect Stranger sites and 1-2 news format THRILLS stores. With these developments, the total number of stores would reach the range of 106 to 113 by 30 June 2024. 

Share performance of UNI

UNI shares closed 2.24% higher at AUD 5.020 apiece on 17 June 2024, with a market cap of AUD 383.60 million. UNI’s share price has increased by 78.01% in the last one years, while in the past three months, it has declined by around 0.59%.

The 52-week high of UNI is AUD 5.95, recorded on 10 April 2024, while the 52-week low is AUD 2.45, recorded on26 June 2023.

UNI Daily Technical Chart, Source: REFINITIV

Note 1: Past performance is neither an Indicator nor a guarantee of future performance.

Note 2: The reference date for all price data, and currency, is 17 June 2024. The reference data in this report has been partly sourced from REFINITIV.