BUZZ-Citi sees risks for Australia's Premier Investments post apparel brands demerger

Reuters

02-03

BUZZ-Citi sees risks for Australia's Premier Investments post apparel brands demerger

** Citi predicts risks and uncertainties for Australian retail billionaire Solomon Lew's Premier Investments PMV.AX post the demerger of its apparel brands

** PMV last month transferred its apparel brands to 125-year-old Myer Holdings MYR.AX in exchange of stake in MYR, leaving it with sleepwear designer brand Peter Alexander (PA) and school essentials brand Smiggle

** PMV also owns a 25% stake kitchen appliances maker Breville Group BRG.AX

** Citi says biggest concern is over PA growth and cost blowout; adds risks have risen for PA growth post 1H25

** Brokerage cuts earnings view post demerger of apparel brands; FY25 core net profit view cut by 15.7% to A$196.8 mln ($121.19 mln), FY26 view slashed by 26% to A$182.8 mln; PMV earned A$257.9 mln in FY24

** Citi hikes PT to A$26.00 from A$22.74, retains "neutral" rating; PMV closed at A$23.88 on Friday

** Five of 12 analysts rate PMV "buy" or higher, while seven rate it "hold"; their median PT is A$29.98 – LSEG data

** PMV down 2% this year, as of last close

($1 = 1.6239 Australian dollars)

(Reporting by Sameer Manekar in Bengaluru; editing by Diane Craft)

((Sameer.Manekar@thomsonreuters.com;))

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adds risks have risen for PA growth post 1H25</p><p>** Brokerage cuts earnings view post demerger of apparel brands; FY25 core net profit view cut by 15.7% to A$196.8 mln ($121.19 mln), FY26 view slashed by 26% to A$182.8 mln; PMV earned A$257.9 mln in FY24</p><p>** Citi hikes PT to A$26.00 from A$22.74, retains \"neutral\" rating; PMV closed at A$23.88 on Friday</p><p>** Five of 12 analysts rate PMV \"buy\" or higher, while seven rate it \"hold\"; their median PT is A$29.98 – LSEG <span>data</span></p><p>** PMV down 2% this year, as of last close</p><p>($1 = 1.6239 Australian dollars)</p><p> (Reporting by Sameer Manekar in Bengaluru; editing by Diane Craft)</p><p> ((Sameer.Manekar@thomsonreuters.com;))</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":null,"symbol_name":null,"start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20250202:nL1N3OT0A4:1","article_id":"2508989159","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2508989159","pubTimestamp":1738534945,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"BUZZ-Citi sees risks for Australia's Premier Investments post apparel brands demerger** Citi predicts risks and uncertainties for Australian retail billionaire Solomon Lew's Premier Investments PMV.AX post the demerger of its apparel brands ** PMV last month transferred its apparel brands to 125-year-old Myer Holdings MYR.AX in exchange of stake in MYR, leaving it with sleepwear designer brand Peter Alexander  and school essentials brand Smiggle** PMV also owns a 25% stake kitchen appliances maker Breville Group BRG.AX ** Citi says biggest concern is over PA growth and cost blowout; 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