BUZZ - Shares of Australia's Premier Investments decline as brokers express concerns over the company's earnings

September 25 - ** Premier Investments (PMV.AX) shares fell as much as 3% to A$11.59

** On Thursday, the retailer reported (link) that its FY2026 EBIT was in line with expectations

** Morningstar (cut price target by 3% to A$15.5) said FY2026 retail EBIT dropped 10% due to a 2% decline in sales

** UBS (maintains “Buy” rating, price target A$16.5) said that a high effective tax rate of 47% in the second half weighed on full-year net profit, which missed expectations

** Given the expected decline in sales, FY2027 and FY2028 core EBIT forecasts were cut by 1.3% and 1.7% respectively

** Citi (“Neutral”, A$13.3) expects the gross margin to remain flat in FY2027; although favourable currency movements contributed positively to cost of sales, these were offset by discounts driven by rising interest rates and higher fuel prices affecting consumers

** Year to date, PMV shares have fallen about 15%

(US$1 = A$1.4259)

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