** Australian retailer Premier Investments' PMV.AX shares are up as much as 6%, their strongest intraday session since January 29
** Citi notes that PMV's first-half EBIT of A$162 million ($102.04 million) is in line with the guidance provided in January, reflecting the stabilised sales
** Despite deterioration in stationery items retailer Smiggles' sales, Citi points out that performance of sleepwear store Peter Alexander has been more positive
** Adds, no dividend has been declared due to the in-specie distribution following sale of apparel brands to Myer MYR.AX, but expects dividends to resume at the FY25 result
** Expects market to be encouraged by the stabilisation of trading into the second half
** Maintains "neutral" rating at the price target of A$26/shr
** Stock down 13.2% YTD including current session
($1 = 1.5876 Australian dollars)
(Reporting by Kumar Tanishk in Bengaluru)
((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk))
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