BUZZ-Australia's Premier Investments hits 2-year low as Citi cuts outlook, PT on Smiggle brand drag

Reuters

2025/12/08

** Shares of Premier Investments fall as much as 1.7% to A$14.96 in early trade, its lowest since late July 2023

** Citi trims price target and cuts outlook on the retailer, citing heightened uncertainty around stationery brand Smiggle's earnings, among others

** Brokerage cuts retail EBIT forecasts by about 13% for FY26 and 9 - 11% for FY27 - 28; Trims price target to A$16.70 while keeping "Neutral" rating

** Says cuts largely reflect slimmer Smiggle margins given operating deleverage from weak sales

** Stock down 38.2% YTD, including the day's moves

(Reporting by Kumar Tanishk in Bengaluru)

((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk http://www.x.com/thatstanishk;))

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