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))