Premier Investments Limited (ASX:PMV) 1H25 Trading Update
1H25 Trading Performance
Premier Investments Limited has released an unaudited trading update for its Premier Retail segment for the 26 weeks ending 25 January 2025. The company anticipates total global sales in the range of $855 million to $865 million, reflecting flat Australian sales compared to 1H24. Underlying EBIT (pre AASB16) is projected between $160 million to $165 million.
The company noted that retail conditions have remained challenging due to cost of living pressures affecting consumers, who are focused on value. The Apparel Brands business, which includes Just Jeans and Jay Jays, is expected to generate global sales between $405 million to $412 million, with underlying EBIT projected to be $31 million to $35 million, which is $16 million to $20 million less than 1H24.
Future Outlook and upcoming General Meeting
Premier expects to end 1H25 with a clean inventory position, largely in line with or below that of 1H24. The company has scheduled a General Meeting on 23 January 2025, where shareholders will vote on the proposed combination of its Apparel Brands business with Myer Holdings Limited.
The Board of Directors of Premier unanimously recommends shareholders approve the resolutions. The projections provided are subject to the remainder of 1H25 trading and a final external auditor’s review.
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Premier Investments. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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