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Premier Investments Limited (ASX:PMV)

ALERT: Price-sensitive ASX Announcement for PMV
Current share price for PMV : $11.550 -1.89 (-14.06%)+
Announcement
Release
12 Aug 2026 8:23AM
Price at Release
$13.440
Full Release
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Summary
Premier Investments Limited's retail segment, Premier Retail, reported a challenging FY26 with sales of $795.5 million, a 2% decline from the previous year. The company expects its underlying EBIT for FY26 to be around $176 million, slightly below earlier guidance. In a strategic move, Peter Alexander decided to close its three UK stores, pivoting to an online model while expanding its footprint in Australia and New Zealand with new store openings. Furthermore, Peter Alexander is re-establishing its presence in Myer as a concession partner. The Smiggle brand is undergoing a strategic reset to enhance its market position. Despite market challenges, Premier Investments Limited maintains a strong financial position and remains optimistic about the future of Premier Retail.
Key Points
  • Premier Retail reported unaudited sales of $795.5 million for FY26, down 2% from FY25.
  • The FY26 Underlying EBIT for Premier Retail is expected to be around $176 million, which is lower than the initial guidance of $183 million.
  • Peter Alexander will exit its three UK stores due to challenging market conditions and focus on online sales.
  • Peter Alexander plans to open at least five new stores in Australia and New Zealand during the first half of FY27.
  • Peter Alexander will return to Myer as a concession partner, with relaunch in 24 stores from August 2027.
  • Smiggle is undergoing a strategic reset to refresh its brand and will maintain its presence in the UK.
  • Premier Investments Limited maintains a strong balance sheet and is confident in the long-term outlook for Premier Retail.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.