External broker reports(aggregated public sources), Wilsons Advisory

Wilsons Advisory

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External broker reports(aggregated public sources)

Equity Bottom-Up

Universal Store Holdings Ltd / Equity Bottom-Up

<div><div><div><ul><li>Universal reported 1H23a EBIT of $28.5m (Post AASB16), -7.4% vs. WILSe.</li><li>Revenue missed our forecasts by -4.7% due to Universal physical stores which were still +35.2% yoy.</li><li>Encouragingly, Perfect Stranger and Thrills (in consolidation) exceeded our expectations. </li></ul></div></div></div><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Universal reported 1H23a EBIT of $28.5m (Post AASB16), -7.4% vs. WILSe.Revenue missed our forecasts by -4.7% due to Universal physical stores which were still +35.2% yoy.Encouragingly, Perfect Stranger and Thrills (in consolidation) exceeded our expectations. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Universal Store (UNI) - O/W: “Leverage like We’ve Never Had...”