Updates with share moves, Myer results
** Premier Investments PMV.AX falls 3.5% to A$20.27, lowest since January 23
** Citi says focus of co's H1 FY25 results will be on risks to cost management and sales growth in its retail brands Smiggle and Peter Alexander
** Retains "neutral" rating, PT of A$26
** Earlier, co forecast weak H1 results on challenging retail conditions
** Rival Myer Holdings MYR.AX tumbles 10% as HY profit drops ~19% y/y
** Citi sees Premier's costs rising due to higher labour, rent inflation
** Says co has historically managed costs well, so extent of deterioration in H1 points to challenges in managing it lower vs H2
** Forecasts ~4% y/y growth in cost of doing business for Peter Alexander and Smiggle in H2
** PMV loses ~17% YTD
(Reporting by Nikita Maria Jino in Bengaluru)
((Nikita.Jino@thomsonreuters.com))
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