Premier Investments gave their half yearly results today...a pretty good effort, growing their sales quite well. Congrats to Mcinnes and all the kids.
However, I do wonder about their strategy to expand into the UK using their Smiggle brand, which is the sale of Stationary.
If you look at the results, Smiggle is actually one of the more under performing brands, by store
The order of performing brands is as follows
1. Peter Alexander (sales - 990,000 per store for the half year)
2. Portmans (571,000 per store)
3. Dotti (528,000 per store)
4. Just Jeans (432,000 per store)
5. Jay Jays (400,000 per store)
6. Smiggle (398,000 per store)
7. Jacqui-e (364,000 per store)
So it just strikes me as a waste to go hard on Smiggle in the UK, when Peter Alexander would probably be a better fit. Sleepwear would be a bigger market and would be more profitable in my opinion.
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