Why the Premier Investments Limited (ASX:PMV) share price just printed a record high

The Premier Investments Limited (ASX: PMV) share price hit a record high of $18.30 this afternoon despite the apparel and children’s stationery retailer not releasing a trading update to the market since its interim report in March 2018. For the 26 weeks ended January 26 2018 Premier reported a record net profit of $78.6 million on record sales of $630.1 million.

Much of the group’s growth amidst generally soft retail trading conditions in Australia is down to the success of its Peter Alexander homeware and Smiggle children’s stationery business. Like-for-like sales growth at both these businesses has been relatively strong and new store openings are stoking momentum.

Smiggle is embarking on an ambitious international expansion program in the UK, Europe and South East Asia, while it grew sales 27% to $171 million over the most recent half year with 26 new store openings.

Investors will be eager to hear of more success when Premier reports its full year results in September 2018.

Other brands in its retail stable include Portmans, Dotti, Jacqui E and Just Jeans that have delivered mixed results at best compared to its aforementioned stars.

The group also pays a healthy dividend and has a rock solid balance sheet that includes a substantial ownership interest in Breville Group Ltd (ASX: BRG). The kitchen appliance maker’s soaring value is also supporting the Premier share price.

Top 3 ASX Blue Chips To Buy In 2018

For many, blue chip stocks mean stability, profitability and regular dividends, often fully franked..

But knowing which blue chips to buy, and when, can be fraught with danger.

The Motley Fool’s in-house analyst team has poured over thousands of hours worth of proprietary research to bring you the names of "The Motley Fool’s Top 3 Blue Chip Stocks for 2018."

Each one pays a fully franked dividend. Each one has not only grown its profits, but has also grown its dividend. One increased it by a whopping 33%, while another trades on a grossed up (fully franked) dividend yield of almost 7%.

The names of these Top 3 ASX Blue Chips are included in this specially prepared free report. But you will have to hurry. Depending on demand – and how quickly the share prices of these companies moves – we may be forced to remove this report.

Click here to claim your free report.

Motley Fool contributor Tom Richardson has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Premier Investments Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The 5 mining stocks we’re recommending in 2019…

For decades, Australian mining companies have minted money for individual investors like you and me. But if you believe the pundits and talking heads on TV, those days are long gone. Finito! Behind us forever…

We say nothing could be further from the truth. To earn the really massive returns, you’ve got to fish where others aren’t fishing—and the mining sector could be primed for a resurgence. That’s why top Motley Fool analysts just revealed their exciting new research on 5 ASX miners they believe could help you profit in 2019 and beyond…


The best way we see to play the global zinc shortage… Our #1 favourite large-cap miner (hint: it’s not BHP)… one early-stage gold miner we think could hit the motherlode… Plus two more surprising companies you probably haven’t heard of yet!

For free access to our brand-new research, simply click here or the link below. But be warned, this research is available free for a limited time only, and we reserve the right to withdraw it at any time.

Click here for your FREE report!