BUZZ-Australia's Premier Investments marks biggest drop since 2020 on weak retail sales outlook

Reuters
13 Jan
BUZZ-Australia's Premier Investments marks biggest drop since 2020 on weak retail sales outlook

** Shares of Australian retailer Premier Investments PMV.AX fall as much as 14.7% to A$28.2, their biggest intraday pct loss since late-March 2020

** Co expects first-half total global sales for Premier Retail segment to be in the range of A$855 mln ($526.34 mln) to A$865 mln vs A$879.5 mln reported a year ago

** Says retail conditions have remained challenging through the first half

** Shares hit their lowest since Feb 14, down for three straight sessions

** Stock is the biggest pct loser on the S&P/ASX 200 index .AXJO

** Stock has lost 8.6% this year, including current session's moves

($1 = 1.6244 Australian dollars)

(Reporting by Roushni Nair in Bengaluru)

((Roushni.Nair@thomsonreuters.com;))

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