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Why the Universal Store (ASX:UNI) share price is up 6% to a record high



The Universal Store Holdings Ltd (ASX: UNI) share price is charging higher on Thursday.

In morning trade the fashion retailer’s shares are up 6.5% to a record high of $6.50.

This means the Universal Store share price is now up 71% from its November IPO price of $3.80

Why is the Universal Store share price charging higher?

Investors have been buying Universal Store shares following the release of its half year results this morning.

For the six months ended 31 December, the company reported an impressive 23.3% increase in sales to $118 million. This was driven by like for like store sales growth of 19.1% and a 128.3% jump in online sales. This offset store closures in Melbourne between August and October.

Positively, the company…

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