Premier shares rise on earnings update
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More news: Shares in retail group Premier Investments were higher by 4.5% at $25.08 at 10.44am (AEDT) after it revealed first-half earnings before interest and tax were on course to match the previous corresponding period.
Ahead of its annual general meeting on Friday, Premier said first-half EBIT is on course for about $200 million.
Premier Investments 1H sales on track to match prior period
The news: Premier Investments, which owns stores including Peter Alexander and Smiggle, has revealed first-half earnings before interest and tax (EBIT) of its Premier Retail division are on course to match the previous corresponding period.
Chairman Soloman Lew will also say at Premier's annual general meeting on Friday that the initial stage of assessing a possible demerger of Peter Alexander and Smiggle has confirmed it could provide significant growth opportunities, but there is still no certainty that the demerger will take place.
The numbers: Premier Retail's first-half EBIT is on course for about $200 million, close to the 2023 first-half EBIT of $200.4 million.
Lew said the first-half 2024 result will be largely influenced by Christmas sales and the group was prepared for this critical period.
The context: Law claimed a record sales result for the Black Friday period, although did not provide figures. He said he will provide more updates in months ahead.
The source: Premier Investments
