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Stock of the day:
Premier Investments
With profits holding steady and dividends announced, Premier Investments tackles retail challenges through strategic restructuring and future growth prospects.
(AI video summary)
This video was created on 20 March 2026 for IG audiences by ausbiz.
ASX code: PMV
Steady profits amidst soft sales
Premier Investments reported steady profits from continuing operations for the first half, reaching nearly $102 million despite weaker sales. Total revenue increased by 3% to almost $480 million, but Smiggle's sales decline was notable. The company announced a fully franked interim dividend of $0.45 per share, contrasting with no dividend last year.
Difficult market conditions
The retail sector, particularly discretionary spending, is under pressure as rising interest rates impact consumer finances. Premier's brands, such as Peter Alexander, target younger consumers who face increased mortgage and rent costs. Smiggle is undergoing restructuring to appeal to the 6 to 12 age group, aiming to revitalise its customer base.
Investment outlook
Despite challenges, Premier's share price rose, driven by dividends and a share buyback. Its strong balance sheet fuels speculation of future acquisitions, although none are confirmed. The company's investment in Breville Group enhances its diversification potential.
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