Major fashion retailer Premier Investments has warned it is prepared to close as many as 350 stores across Australia and New Zealand if landlords are unwilling to renegotiate rents for a post-COVID retail environment | domp
Major fashion retailer Premier Investments has warned it is prepared to close as many as 350 stores across Australia and New Zealand if landlords are unwilling to renegotiate rents for a post-COVID retail environment.
The company, which operates chains such as Jay Jays, Smiggle, Just Jeans and Peter Alexander, reported a 30 per cent jump in net profit for the year to $137.8 million, and underlying earnings before interest and tax of $187.2 million, up 11.6 per cent.The result includes an $8.
The threat comes as the retailer reported a strong set of full-year numbers in face of the pandemic. Its revenue declined just 4.3 per cent for the year to $1.22 billion, despite the company's stores being closed for nearly two months during the April-May lockdowns, and total sales declining nearly 20 per cent for the second half of the year.
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