Premier Investments' Smiggle brand has a long international expansion runway ahead of it.
Shares in no-moat-rated Premier Investments are screening as expensive, trading at an 18% premium to our unchanged AUD 14.50 per share fair value estimate. We continue to credit Smiggle with successfully rolling out stores in Europe and even entering two further countries in 2020, beyond those already confirmed by management. However, we think the company’s core brands, largely operating in a highly contested Australian fashion retail market, will face gradually declining sales over the next dec...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.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
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.
We have operations in 27 countries.
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