Premier Investments (ASX:PMV): FY26 Dividend and Retail Earnings in Focus

Aditi Sarkar

22 October 2026 05:47 PM AEDT

Premier Investments (ASX:PMV): FY26 Dividend and Retail Earnings in Focus

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Highlights

Premier Investments (ASX:PMV) declared a 36-cent fully franked final FY26 ordinary dividend.
FY26 ordinary dividends totalled 81 cents per share, with 100% franking.
Premier Retail reported AUD 795.5 million in FY26 sales and AUD 175.9 million in underlying EBIT.
Peter Alexander sales rose 3.2%, while Smiggle sales fell 12.9% in FY26.

Premier Investments Limited (ASX:PMV) owns the Peter Alexander sleepwear and Smiggle stationery retail businesses and holds an investment in Breville Group. Its dividend-related information includes an AUD 13.28 reference figure and 100% franking. In September 2026, Premier declared a 36-cent-per-share fully franked final ordinary dividend after reporting FY26 results that included AUD 129.2 million in statutory net profit after tax, alongside differing trading outcomes at its two retail brands.

Company Business

Premier Investments (ASX:PMV) operates through its Premier Retail and investments activities. Peter Alexander sells sleepwear and related products through stores and digital channels, principally in Australia and New Zealand. Smiggle supplies stationery, school accessories and lifestyle products in Australia, New Zealand, the United Kingdom, Ireland, Singapore and Malaysia, together with wholesale arrangements in other markets.

The group also holds approximately 25.2% of Breville Group, the consumer appliances company. At 25 July 2026, Premier reported a market value of AUD 1.08 billion for its Breville shareholding, compared with a carrying value of AUD 384.2 million. Its own retail operations and equity-accounted investment income have distinct effects on reported financial performance.

Recent Development

In September 2026, Premier Investments (ASX:PMV) announced a final fully franked ordinary dividend of 36 cents per share, payable on 22 January 2027. With the 45-cent interim dividend approved earlier in 2026, total FY26 ordinary dividends were 81 cents per share, up 62% on FY25 ordinary dividends. The board also continued the on-market share buyback previously announced as part of its capital management program.

Peter Alexander recorded AUD 565.3 million in FY26 sales, up 3.2% year on year. Four new stores opened during the financial year, while five existing locations were expanded or relocated. The Peter’s Dreamers loyalty program attracted more than 1.4 million members in its first ten months, with members accounting for more than 60% of brand sales in FY26.

Smiggle recorded AUD 230.2 million in sales, down 12.9%, as the business implemented a product and channel reset. It ended FY26 with 268 stores, compared with 309 at the start of FY25. New product ranges, changes to merchandising and the Smiggle Club loyalty program formed part of its 1H27 relaunch preparations.

Financial Performance and Sector Context

Premier Investments (ASX:PMV) reported statutory FY26 net profit after tax of AUD 129.2 million. Profit before tax, excluding significant items, was AUD 211.1 million, down 4.16% against FY25. Premier Retail sales totalled AUD 795.5 million, down 2.0% on a comparable 52-week basis, while underlying EBIT reached AUD 175.9 million on a pre-AASB 16 basis and excluding significant items.

The retail division recorded an underlying EBIT margin of 22.1% and gross margin of 65.2%. Costs of doing business increased 1.2%, while year-end inventory fell AUD 9.5 million, or 8.9%, to AUD 96.7 million. Premier reported AUD 391.4 million in cash at 25 July 2026, providing balance-sheet context for the final dividend and ongoing capital returns.

The FY26 result reflected contrasting performance across discretionary retail formats. Peter Alexander increased sales, whereas Smiggle reported lower revenue amid a reduction in its store network. The company identified consumer cost-of-living pressures and challenging discretionary spending conditions during the second half of FY26. These factors are relevant to product pricing, promotional activity, stock management and store productivity.

Risks to Consider

Premier Investments (ASX:PMV) remains exposed to discretionary consumer demand, stock selection, retail occupancy and staffing costs, and the execution of Smiggle’s revised product strategy. Changes in exchange rates can affect internationally sourced products and offshore operations. The carrying value and income contribution of its Breville investment also create exposures separate from the directly operated retail brands.

What to Watch Next

For 1H27, Premier reported that like-for-like sales and gross profit dollars, in constant currency, were each within 1% of the corresponding period during the first seven weeks. Further financial disclosures will show trading through the Black Friday, Christmas and back-to-school periods, the effect of Smiggle’s new ranges, and the performance of Peter Alexander store openings. The declared final dividend remains scheduled for January 2027.

Key Insights

Premier Investments (ASX:PMV) reported lower combined retail sales but maintained a 22.1% underlying retail EBIT margin in FY26. Its fully franked 36-cent final dividend brings ordinary dividends to 81 cents per share for the year. The next trading updates will clarify whether initiatives across Peter Alexander and Smiggle affect revenue, inventory and operating margins while capital returns continue.

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