The Premier Investments Ltd (ASX: PMV) share price is in focus after the company posted a net profit from continuing operations of $129.2 million, down 10.3% from last year, with total revenue from ordinary activities slipping 2.8% to $808 million.
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What did Premier Investments report?
- Total revenue from continuing operations: $808.0 million (down 2.8%)
- Net profit after tax (continuing operations): $129.2 million (down 10.3%)
- Final dividend: 36 cents per share, fully franked (record date 11 December 2026; payable 22 January 2027)
- Interim dividend: 45 cents per share, fully franked
- Total ordinary dividends for FY26: 81 cents per share (up from 50 cents in FY25, which included a large in-specie distribution)
- Net tangible assets per share: $4.19 (down from $4.43)
What else do investors need to know?
The 2026 financial year was Premier Investments' first full year after selling its five Apparel Brands to Myer Holdings in January 2025. The group is now focused on its Peter Alexander and Smiggle retail brands, alongside its investment in Breville Group.
Peter Alexander continued to perform strongly, recording $565.3 million in sales (up 3.2%), aided by the successful launch of the 'Peter's Dreamers' loyalty program. However, subsequent to year-end, the group announced the closure of its three UK Peter Alexander stores due to sustained weak trading in that market—an impairment expense of $7.7 million was recognised.
In contrast, Smiggle recorded global sales of $230.2 million, down 12.9% from the prior year, and has embarked on a strategic brand repositioning, targeting its original core age group for renewed growth.
Premier also remains a major shareholder in Breville Group Ltd (ASX: BRG) (holding 25.2%), booking $34.8 million in associate profit and receiving $13.9 million in dividends from Breville during the year.
What did Premier Investments management say?
John Bryce, Chief Financial Officer at Premier Retail, said:
Despite challenging conditions, we were able to maintain strong gross margins and continue investment in our brands. The resilience of Peter Alexander and our ability to adapt at Smiggle shows the underlying strength of our focused retail platform.
What's next for Premier Investments?
Looking ahead, Premier Investments will focus on deepening customer engagement, particularly through the Peter Alexander loyalty program. With the winding down of UK store operations, Peter Alexander's international strategy will now centre on online rather than bricks-and-mortar in Europe.
For Smiggle, the brand refresh is expected to underpin future growth, with a relaunch planned for FY27 targeting the core 6–12 year age demographic. The group also plans ongoing investment in both brands, supply chain innovation, digital channels, and sustainability initiatives.
Management remains confident in the group's financial flexibility and cash position, supporting continued dividends and capital management.
Premier Investments share price snapshot
Over the past 12 months, Premier Investments shares have declined 45, significantly trailing the S&P/ASX 200 Index (ASX: XJO).
