Premier Investments says its first-half profit rose 6.5 per cent during the December half as sales rebounded across all of its apparel brands.
The group – which owns and operates Jay-Jays, Dotti, Peter Alexander, Just Jeans, Smiggle, Portmans and Jacqui E – reported an overall lift in sales of 17.6 per cent to $905.2 million. EBIT reached $221.8 million, while statutory tax-paid profit grew 6.5 per cent to $174.3 million.
Reflecting the end of the Covid restrictions, online sales fell 12.5 per cent to $170.9 million as shoppers returned to physical stores.
The company’s five key apparel brands delivered $452.8 million, an increase of 14.3 per cent with Jacqui E registering its highest first half in a decade.
Sleepwear brand Peter Alexander’s sales were up 15.1 per cent to $261.7 million driven by “exceptional performance” across all categories especially in the lead-up to Christmas last year.
Stationery brand Smiggle’s sales rebounded, up 30.3 per cent to $190.7 million. The brand’s collaborations with Harry Potter, Minecraft and Disney’s Mickey and Minnie drove much of the success.
Group chairman Solomon Lew, described the half as a “record result” in an uncertain economic environment and added the company is on track to deliver “strong returns” to its shareholders.
Premier Retail CEO, Richard Murray, said: “We remain focused on continuing to deliver relevant and quality products, enhancing our digital offering, optimising our store portfolio and identifying new store opportunities to support growth.
“We are also focused on identifying and executing new offshore market opportunities for Smiggle and Peter Alexander.”
