Wow, no love for UNI on here, hard to believe. There's no...

Wow, no love for UNI on here, hard to believe. There's no denying there are numerous quality retailers in Aus - JBH. PMV, LOV and NCK come to mind, but this is looking more and more like another one. Perhaps being a pureplay apparel retailer has investors nervous (blow ups of CCX and MOZ) and UNI's decline in same store sales could be at the forefront of investors' minds.
But I have nothing but praise for management who are doing everything they say they will do (and are aligned with us). By all account the transition to the new DC has gone extremely well and the CTC acquisition looks compelling with new brands being introduced to the stores. They appear to know their customer very well. The cashflow performance in 1H24 was outstanding and with its Balance Sheet this company is well funded for a significant store rollout, particularly Perfect Stranger. Based on Enterprise Value, there is still some value here IMO despite the leg up yesterday.