Premier Investments Limited has reported that its total global retail sales hit $1.6 billion for FY24 in unaudited results released to shareholders.
This is similar to the group’s FY23 results, when global retail sales were up by 9.7 per cent from FY22, hitting $1.6 billion.
Premier - which manages Peter Alexander and Smiggle alongside five other brands under The Just Group - also reported earnings before interest and tax (EBIT) of between $326 million and $341 million (pre and post AASB 16). This is down from Premier Retail’s FY23 EBIT result of $356.5 million, which was then up 6.4 per cent on FY22.
According to Premier, the trading update excludes any results from its investment portfolio. Premier has a key stake in the kitchen appliances business Brevilles as well as with department store Myer.
Earlier this year, Premier and Myer tabled potential merger plans, where the department store would acquire Premier’s Apparel Brands business - which includes Just Jeans, Jay Jays, Portmans, Dotti and Jacqui E - in exchange for the issue of new shares in Myer to Premier.