Premier Investments logs full-year sales to $795.5M
Full story: https://grafa.com/en/news/australia/premier-investments-logs-full-year-sales-to-795-5m
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Premier Investments reported unaudited full-year sales of $795.5 million, marking a 2.0% decrease compared to the previous fiscal year.
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The company adjusted its underlying earnings before interest and taxes guidance downwards to approximately $176 million.
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Management cited difficult retail trading conditions in the United Kingdom as the primary driver behind closing three physical stores in that market.
Premier Investments (ASX:PMV) reported unaudited retail sales of $795.5 million for the 52 weeks ended July 25.
The latest sales figure represents a 2.0% drop from the prior financial year, falling short of previous internal performance expectations.
The company adjusted its projected underlying EBIT from the previously stated figure of approximately $183 million down to a revised range of roughly $176 million.
Due to weak UK market conditions, the board will close three physical Peter Alexander stores in Bluewater, Stratford, and White City, shifting solely to online sales for UK customers.
Premier Chairman Solomon Lew said, "Peter Alexander is one of Australia’s and New Zealand’s most loved brands. While trading conditions in the United Kingdom remain difficult, the decision to close our UK stores allows us to concentrate our investment where the brand is performing strongly."
Premier stated that it plans to release its fully audited financial results for the 2026 fiscal year in late September.
Following the announcement, the Premier Investments share price was down at $13.40.
The retail group manages a diverse portfolio of specialty apparel and accessory brands across Australia, New Zealand, and international markets.
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