What Happened to the Premier Investments Share Price?
Premier Investments Limited [ASX:PMV] operates a number of specialty fashion retail chains. Brands under the PMV banner include Just Jeans, Jay Jays, Dotti, Portmans, Jacqui E, Peter Alexander and Smiggle. There are more than 1,000 stores across Australia, New Zealand, Singapore, the UK, and a joint venture in South Africa.
The share price closed 1.78% higher on Wednesday.
Why Did This Happen to PMV Shares?
The stock price has trended downwards since reaching an all-time high of $11.06 on 7 November.
The fall in PMV shares is not surprising this week, as the S&P/ASX 200 has fallen almost 3% since then.
Because PMV shares are exposed to the consumer segment of the market, the share price will react and often take big hits when the ASX drops.
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What Now for Premier Investments Limited?
The main driver of growth is coming from two brands, specifically the expansion of Peter Alexander across Australia and Smiggle in the UK.
Since opening this year, there are eight Smiggle stores in the UK and another 10 will open before Christmas. By the end of the next financial year, PMV estimates there will be around 25–30 Smiggle stores operating in the UK.
While other retailers are blaming the weather or the consumer, PMV continues to defy current retailing conditions in Australia. For the past couple of years, it has proven to be a consistent performer.
That said, if you are looking to add this retail stock to your portfolio, don’t rush in. The share price
regularly experiences large dips, which could present a buying opportunity.
Shae Smith+
Editor, Money Weekend
The post Why the Premier Investments Share Price Rose Today appeared first on Stock Market News, Finance and Investments | Money Morning Australia.
