Premier Investments' Growth Brands Do Their Name Justice, but Future Potential Largely Priced In
No-moat-rated Premier Investments' underlying NPAT of AUD 111 million in fiscal 2017 was below our forecast by 5%. Low Australian consumer confidence weighed on apparel sales, especially in June and July. However, the group’s medium- to long-term growth trajectory is intact, and we maintain our AUD 14 fair value estimate. The firm provided guidance on medium-term sales targets for its two growth brands, announced entry into new markets, and disclosed impressive online sales ahead of our estimate...Premier Investments is engaged in operation of several retail fashion chains within the specialty retail fashion markets in Australia, New Zealand, Singapore, the U.K., as well as Malaysia and Hong Kong. Co. also has investments in listed securities and money market deposits. Co.'s operating segments include the retail segment, which represents several specialty retail fashion chains; and the investments segment, which represents investments in securities for both long-term and short-term gains and dividend income and interest.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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