Sales have surged by 15.5 per cent in FY25 to $333 million across the Universal Store business, driven by double-digit percentage booms at its namesake retail subsidiary and Perfect Stranger.
Universal Store itself recorded a 15 per cent lift in sales to $280.9 million, with Perfect Stranger sales growing by 83.1 per cent to $25.5 million.
The sales surge was offset by a 9.8 per cent fall in sales at the company’s Thrills subsidiary, where sales hit $40.1 million.
In like-for-like terms, Universal Store sales were up 13 per cent, with Perfect Stranger up 25.5 per cent and Thrills up 2.9 per cent.
The total sales increase was due to higher private brand sales mix, driven by the expansion of the Perfect Stranger’s retail format and increased Universal Store private brand sales mix led by Neovision.
The group noted that Neovision continues to resonate strongly with customers and was extended into the women’s and denim categories during the year. The private label brand continued 18 per cent of total sales compared to 11 per cent last year.
With Perfect Stranger, the like-for-like sales growth of 25.5 per cent was due to increases in both sales transactions and average transaction value. “The brand continues to attract new customers to the group, with little to no discernible cannibalisation of nearby Universal Store stores,” the group noted.
Five new Perfect Stranger stores were opened in FY25, resulting in a total 19.
As for Thrills – also known as Cheap Thrills Cycles – the total sales fall was driven by a 13.8 per cent slump in wholesale, offset by a 2.9 per cent lift in direct-to-consumer.
The decline in wholesale sales was driven by a small number of key retail accounts of the Thrills brand, an impact largely cycled in FY25, Universal Store reported.
“Additionally, USA export sales were scaled back in H2 FY25 in response to tariff increases,” the company noted.
“The Worship brand achieved FY25 wholesale channel growth of 10.5 per cent. Collectively, the CTC brands (Thrills and Worship) represented ~10 per cent of Universal Store sales versus ~11 per cent in pcp.
CTC’s gross margin also suffered, falling 330 basis points to 42.9 per cent. CTC FY25. The group noted this was due to product sales mix and aged inventory markdown activity.
“In H1 FY25, the group recognised a $13.6 million goodwill impairment charge based on the adverse wholesale channel performance. The group remains confident in CTC’s long-term potential, onboarding new leadership during the year and further progressing the retail and online strategy.
Two new stores were opened during FY25, with two legacy stores closed. CTC’s network of stores totalled eight as at 30 June 2025, excluding the two webstores.
Group CEO Alice Barbery called the overall results very pleasing, adding that the group’s gross margin also improved by 100 basis points to 61.1 per cent.
“The team continues to execute well, providing our customers with on-trend occasion for wear products, a service-oriented experience and engaging communications,” Barbery said. “We observe the youth fashion customer remains discerning and willing to spend on quality, on-trend clothing. The group continues to focus on cost discipline as we build our team and system capability to support our future growth.”
The group sales surge continued in early FY26, with sales to date (August 21) up 17.2 per cent. Universal Store sales were up 14.7 per cent, with LFL up 10.7 per cent. Perfect Stranger Sales were up 52.8 per cent, with LFL sales up 19.3 per cent, and CTC’s DTC sales were up 12.9 per cent, with LFL sales up 4 per cent.
Management said it expects CTC wholesale sales to remain challenging in FY26.
“The CTC wholesale channel represents less than 5 per cent of group sales, net of intercompany eliminations,” the group reported.
The company expects to open 11 to 17 new stores across the group, with around 4 to 6 Universal Stores, five to seven Perfect Stranger stores and two to four new Thrills stores.
One Universal Store location will close at the end of Q1 FY26 “as the centre undergoes reconstruction” according to the company, with an expected reopening in FY27.
“The group continues to be prudent in ensuring long-term profitability of new stores and lease renewals. The group continues to invest in team and technology to support future growth, strategic projects and digital capability.”