The billionaire rag trader says the spin-off of children’s stationary brand Smiggle and PJs brand Peter Alexander will happen in 2025.
Children’s stationary brand Smiggle will be spun-off as a separate listed entity by late January 2025.Smiggle will open free standing stores in Indonesia, while Peter Alexander plans to launch into the United Kingdom with its first stores to open before Christmas.will separate pyjamas retailer Peter Alexander and children’s stationary brand Smiggle into ASX-traded entities in their own right from 2025.
Premier also flagged plans to open freestanding Smiggle stores in Indonesia with a wholesale partner, and launch Peter Alexander in the United Kingdom with the first stores and a dedicated UK website due to open before Christmas. Smiggle’s interim sales fell 3.6 per cent to $183.9 million in what Mr Lew called “a challenging general discretionary retail environment”. But Peter Alexander delivered a record first-half sales result of $279.3 million, up 6.7 per cent – despite operating 10 fewer stores than it did four years ago.
The group declared an interim dividend of 63¢ a share, payable on July 24, down from 70¢, but that historical figure included a special dividend of 16¢.
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