INVESTORS TAKE SHINE TO HIDDEN GEMS
ALICE Barbery sets a cracking pace as she runs between her Queensland stores and explains the growth story of her company, Universal
Store, to investors beating a path to her office.
On Friday it is no different. Barbery is leading a tour of investors through a Universal Store at the Westfield in Chermside, Brisbane, dealing with the rollout of a newformat store called Perfect Stranger – and checking on her house as northern Australia is enduring rain.
Her work rate has risen since Universal Store floated on the sharemarket in November 2020, when both shoppers and investors were heavily distracted by Covid.
Universal Store is one of a handful of small-cap retail hidden gems starting to shine and getting the attention of institutional investors.
Along with Universal Store – market capitalisation $320m – there’s candle and fragrances specialist retailer Dusk ($130m) and Beacon Lighting ($460m). Dusk also listed on the ASX in the middle of the pandemic, floating in November 2020, a few weeks before Universal Store. Beacon listed in 2014.
“I think the institutional investors are maybe getting a bit more confident in our ability to be able to deliver on executing our growth into trade (commercial lighting),” says Beacon Lighting chief executive Glen Robinson.
“Trade is a big part of Beacon Lighting and an area we have been investing a lot more in. They are starting to understand that. We are getting more traction with institutional investors.