BUZZ-Australia's Premier extends losses for third session; Bell Potter trims forecasts

Reuters
01-15

** Shares of Premier Investments fall 0.7% to A$27.21 after gaining as much as 1.8% in early trade

** Bell Porter adjusts revenue estimates for co's full-year earnings on the back of higher costs

** Brokerage trims PT to A$34 from A$38, but maintains "buy" ratings

** Aussie retailer said on Monday that it expected global sales from its retail business, consisting of Peter Alexander and Smiggle brands, to be in the range of A$855 mln to A$865 mln ($526.25 mln to $532.41 mln) in 1H25 vs A$879.5 mln in pcp

** Brokerage estimates 10%-12% decline in international sales in 1H25, attributed to Smiggle's ~60% exposure to offshore markets

** We also view the best performing Peter Alexander brand to have maintained momentum and continue to expect sales growth of mid-high single digit in 1H25 - Bell Porter

** Bell Porter estimates co's net profit after tax (NPAT) to decline by 10%, 9%, and 8% for fiscal 2025, 2026, and 2026 respectively

** Four of 11 analysts rate the stock "buy" or higher, 7 rate "hold" ; their median PT is A$31 – LSEG data

** Stock down 15.4% YTD, including current session's moves vs 1.1% gain on the benchmark ASX 200 index

($1 = 1.6158 Australian dollars)

(Reporting by Nikita Maria Jino in Bengaluru)

((Nikita.Jino@thomsonreuters.com;))

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