Peter Alexander owner gets profit boost

Last updated 05:00 14/08/2013

Relevant offers

Financial Results

Ebos net profit up Nuplex profit hit hard AWF: 'No growth' in Wellington, regions Cooks Food Group reverses loss Connexionz returns to profit path Skyline profit slips $4 million Former Energy Mad director pockets profit Kirkcaldie & Stains' loss improves Buller mine delay costs Bathurst Snakk Media mulls ASX listing

The retail company that owns fashion chains Just Jeans, Jacqui E, and Portmans in New Zealand and Australia has increased first-half pre-tax profit almost 15 per cent to A$52.6 million ($66 million).

Sales for Premier Retail, which is part of ASX-listed Premier Investments and also includes Jay Jays, Dotti, pyjama chain Peter Alexander, and stationery chain Smiggle, rose 2.5 per cent to A$444.7m.

The company said the result was helped by the "very strong" performance of Peter Alexander in New Zealand, while first-half online sales across the company's brands increased 51 per cent year-on-year.

Same-store sales slipped off slightly - by just under 1 per cent.

The company is enjoying growth from its younger, "innovative" brands Peter Alexander and Smiggle, while working to rejuvenate its core retail brands - Just Jeans, Portmans, Jacqui E, Dotti and Jay Jays - which have all recorded annual sales declines.

Sales at Peter Alexander in New Zealand and Australia rose almost 17 per cent to A$51.5m.

The chain's eight stores in New Zealand, where the brand was "well-accepted and growing", had performed very well, it said.

Sales at stationery chain Smiggle rose 12.4 per cent to A$54.1m.

Sales at Dotti and Portmans also lifted in the period, but Just Jeans, Jay Jays and Jacqui E all saw sales fall.

Gross margin grew to 62.8 per cent, from 61.6 per cent in the previous first-half, thanks to cheaper product-sourcing and the stronger Australian dollar.

Premier Retail chief executive Mark McInnes said second-half trading so far was within its expectations.

The company would continue to invest in technology, brands, store fitouts, service and marketing, he said.

Parent company Premier Investments reported first-half net profit of A$46.5m, up almost 21 per cent year-on-year.

Ad Feedback


Special offers

Featured Promotions

Sponsored Content