Universal Store Holdings saw its net profit surge 45.3 per cent to $34.3 million in the last fiscal year, thanks to group sales rising 9.7 per cent to $288.5 million.

The company attributed the increase to the continued growth of its Universal Store segment with second-half like-for-like sales rebounding to 6.6 per cent, ongoing rollout of the Perfect Stranger’s retail format, completion and contributions of the Cheap Thrills Cycles (CTC), and the net store count increasing to 102.

Universal Store’s sales rose 4 per cent to $244.2 million while Perfect Stranger’s sales soared 56.2 per cent to $13.9 million. CTC’s sales jumped 6.2 per cent to $44.4 million.

“We maintained a steadfast focus on managing margins, optimising inventory and controlling costs, which drove significant earnings growth in a challenging consumer environment,” said Alice Barbery, Universal Store Holdings CEO.

In the first seven weeks of the current fiscal year, the group saw Universal Store and Perfect Stranger’s’ sales swell 15.3 per cent and 89.9 per cent, respectively.

CTC’s sales in the direct-to-consumer channels jumped 13.3 per cent.