22:25 GMT -- The scale of Premier Investments' start-up losses from the entry of its Peter Alexander business to the U.K. surprises Citi analyst Adrian Lemme. Pointing out that Peter Alexander only launched in the U.K. late in the Australian retailer's fiscal first half, Lemme factors in deeper U.K. losses across his forecasts. This drives significant downgrades to his retail earnings forecasts for the next few years, he writes in a note. Citi lowers its target price 7.7% to A$24.00 and stays neutral on the stock. Shares are at A$21.85 ahead of the open. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
March 23, 2025 18:25 ET (22:25 GMT)
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