Retailer Premier Investments reported a lift in full-year profit before the market open. Investors will be looking to the retailer's presentation later today for further guidance on market share for specialty apparel – a segment fiercely contended in the domestic market place – after the group said it was progressing its six-point plan, including rejuvenation of core apparel brands.
Premier Investments also confirmed media reports it will continue its geographic expansion, moving stationery brand Smiggle into Europe following its success in Singapore. Diversifying revenue sources will be supportive if weak growth across the domestic retail sector persists.
The past year has seen Premier Investments gain 58 per cent in what has been an otherwise tough market for retailers.
Closing at $8.38 yesterday, Premier Investments is well above the analyst consensus target price of $7.87.
TPG Telecom Limited
Reporting today, TPG Telecom’s revenue came in 9 per cent higher than last year at $724.5 million, slightly under expectations.
But it has been suggested the NBN could have an undesirable impact on the industry structure and consequently returns. Any further guidance from TPG about the NBN will be a potential catalyst for a decisive share price movement.
TPG is up 73 per cent over the past 12 months, but has seen share price growth flat line over the past three months.
Competitor’s iiNet and Telstra have lost 3.4 per cent and 4.2 per cent respectively since reporting, suggesting the strong run telecommunication companies have had is moderating. Numbers in line with analyst estimates might not be enough for TPG over the coming days.