0019 GMT - Premier Investments' Peter Alexander sleepwear business looks set to experience a softer start to life in the U.K. than previously anticipated, Macquarie analysts warn. They tell clients in a note that the unit's disappointing first-half performance tempers expectations through fiscal 2026, with a higher-priced product and cost-of-living pressures likely to weigh on its U.K. expansion. They lower their forecast for Peter Alexander sales growth to 2% from 7% for fiscal 2025, and to 4% from 7% in fiscal 2026. Macquarie lowers its target price on the Australian retail conglomerate by 15% to A$29.00 and maintains a neural rating. Shares are up 5.25% at A$28.385, but still 14% lower so far this week. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
January 15, 2025 19:19 ET (00:19 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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