The Premier Investments Ltd (ASX: PMV) share price is under the spotlight today after reporting its FY26 half-year result.
Premier Investments is a retail business, it owns the pyjamas brand Peter Alexander and children’s school accessories business Smiggle. It also owns a sizeable chunk of Breville shares with a 25.2% stake.
Premier Investments FY26 half-year result
Here are some of the main highlights from the report for the 26 weeks to 24 January 2026:
- Underlying Premier retail sales down 0.5% to $452.8 million
- Underlying Premier retail EBIT (EBIT explained) of $119.3 million
- Underlying Premier retail profit before tax (PBT) down 4.3% to $141.9 million
- Net profit from continuing operations up 0.4% to $101.7 million
- Statutory net profit down 13.1% to $101.7 million
- Dividend per share of $0.45 declared
The business divested its numerous other brands like Jay Jays, Just Jeans, Dotti and so on, which is why there is discontinued and continuing operations.
What happened within the result?
Premier Investments revealed that Peter Alexander continued to grow, with sales growth of 4.9% to $312.3 million. Its investments are delivering “significant growth within existing markets” of Australia and New Zealand.
The Peter Alexander business continues to open new stores, with four opened during HY26 – three in NSW and one in Victoria. Another four existing stores were relocated and/or expanded during HY26.
Premier Investments claimed that it increased its market share across all product categories (women’s, men’s children, plus-size and gifting).
However, Smiggle continues to struggle. Global sales declined by 10.7% to $140.5 million. The number of stores decreased by 8.7% since the start of HY25, going from 309 stores to 282 stores.
Smiggle is focusing on “operational efficiencies” across its global store network throughout its markets of Australia, New Zealand, the UK, Ireland, Singapore and Malaysia.
Pleasingly, Smiggle’s wholesale channel delivered growth in HY26 thanks to long-term agreements in two key markets of the Middle East and Indonesia. Wholesale can provide medium-term growth through a capital-light strategy with proven partners.
Smiggle will look to reposition and expand its product range, simplify the business and improve its marketing.
Outlook for the Premier Investments share price
The company said that the company’s FY26 second half, in the first seven weeks, has seen Peter Alexander open “well ahead of expectations” and exceeding the growth rate of the first half.
With Smiggle, Premier Investments is targeting a return to growth in the first half of FY27.
Subject to current trading conditions continuing, Premier Investments expects the FY26 underlying EBIT to be around $183 million.
I think the Premier Investments share price could be a long-term opportunity at the current level, but the short-term could be bumpy. Ongoing expansion of Peter Alexander is a positive sign and should help its revenue and profit margins. Time will tell whether Smiggle can be turned around.
It’s one of the ASX dividend shares and ASX growth shares I’d keep my eye on considering how far it has fallen.
