• Strong revenue growth of 15.5% driven by LFL growth and new store openings
• Underlying EBIT up 15.9% to $54.6 million
• Robust cash flow enables full repayment of term loan and 80% dividend payout

Universal Store Holdings Limited (the 'Company') and its controlled entities (the 'Group') delivered a strong FY25 financial result with revenue of $333.3 million representing growth of $44.8 million or 15.5% on FY24. This sales growth was driven by strong like-for-like (LFL) growth and the opening of 12 new stores across the Group, partially offset by three store closures and decreased Cheap Thrills Cycles Pty Ltd (CTC) wholesale sales. The US and PS retail formats delivered LFL growth for the year of +13.0% and +25.5% respectively, reflecting the team's success in delivering on-trend, occasion wear for customers. CTC experienced mixed performance, with the Worship brand continuing to perform well, while the THRILLS brand saw a decline in the wholesale channel. Group FY25 gross margin of 61.1% represents a 100-basis point improvement on FY24, driven by the growth of the PS retail format, increased private brand penetration, and disciplined pricing and promotional activity. The Group ended the year with a robust underlying cash flow from operations of $98.0 million, enabling the full repayment of its $15 million term loan and an 80% dividend payout.

The Group is forecasting continued growth in FY26, with 4-6 new Universal Store and 5-7 new Perfect Stranger stores planned, as well as 4 major store refurbishments. The Group is also evaluating the implementation of a new point-of-sale system and a group-wide warehouse management system to drive further productivity improvements.

The Group is well-positioned heading into FY26, with a strong balance sheet, robust cash flow, and a focus on delivering on-trend, premium fashion products to its target 16-35 year-old customer base. The Group will continue to invest in its retail network, digital capabilities, and team to support future growth.