Universal Store Group, an Australian retailer focusing on youth fashion, has reported a substantial increase in its half-year net profit. The company posted a net profit of $28.3 million, a 150 per cent increase compared to the equivalent period last year. Universal Store focuses on providing trend-conscious customers with quality, on-trend clothing and accessories, stocking a mix of international and Australian brands, as well as its own private label offerings.
Revenue climbed by 14.2 per cent, and underlying profit rose by 22 per cent. The company also declared an interim dividend of 26 cents a share, reflecting the strong financial performance. The gross profit margin grew significantly, reaching 62.1 per cent, driven by expansions in both sales and margin across the group’s store network.
Chief executive Alice Barbery attributed the impressive results to the company’s success in catering to its trend-conscious customer base. While pleased with the current performance, Barbery also indicated a focus on enhanced expenditure management. The group aims to maintain cost discipline while simultaneously building its team and system capabilities to support future growth initiatives.
Looking ahead, Universal Store has reaffirmed its market guidance, projecting the opening of 11 to 17 new stores throughout the current financial year, signaling continued expansion and confidence in its market position. This planned growth underscores the company’s commitment to extending its reach and serving a broader customer base.
