Universal Store Holdings expects higher sales for the fiscal year ending June 30, thanks to improved performance in the majority of its segments.
The fashion retailer – which sells more than 100 ‘trend-led’ apparel, footwear and accessories brands including Champion, Perfect Stranger, Tommy Jeans, Thrills, and Wrangler – forecasts annual group sales to rise 9.7 per cent from last year to $288.5 million.
Perfect Stranger is expected to have the highest like-for-like sales growth of 7.3 per cent, followed by Cheap Thrills Cycle wholesales at 5.4 per cent.
The company estimates 4.6 per cent growth for Cheap Thrills Cycle retail and online and a 0.3 per cent decline for Universal Store.
The group anticipates underlying earnings before interest and taxes (EBIT) to range from $46 million to $47 million, up from $40.4 million in the prior fiscal year.
The company ended the fiscal year with 102 physical store locations comprised of 80 Universal Store sites, 14 Perfect Stranger sites, and eight Thrills stores.
“These results underscore our commitment to customer-led outcomes and operational excellence,” said Alice Barbery, group CEO at Universal Store Holdings.
“We’ve maintained a steadfast focus on managing margins, optimising inventory and controlling costs.”
In the first two weeks of the current fiscal year, the company witnessed sales increase of 15 per cent, excluding CTC wholesale channel.
