Australian retail conglomerate Premier Investments has reshuffled its leadership and reported a dip in profits, as the company continues the reset of its major brands.
Recording a net profit after tax (NPAT) of $101.7 million in the first half of fiscal 2026, and $458.2 million in sales for its retail division across the same period, the group’s chairman, Solomon Lew, said he is looking towards an “optimal organisational structure”.
Both the NPAT and sales figures represented declines from the first half of 2025, the prior comparable period, at 13.1 per cent and 0.48 per cent, respectively.
“The past two and half years have been a period of significant change for our business,” Lew added.
With this earnings update, the ASX-listed giant also confirmed changes within its leadership team.
Georgia Chewing has been appointed as MD of Smiggle, and interim CEO John Bryce will return to his role as Premier Retail CFO. Premier Investments described both Georgia Chewing and Judy Coomber, the respective MDs of Smiggle and Peter Alexander, as “outstanding retailers”.
“Today, we have a leaner business,” Lew said. “The Premier Investments board is keen to see our brands operate with the speed and agility required to keep pace with consumer trends and spending volatility.
“The board now looks toward the optimal organisational structure that supports the current two-brand business of Premier Retail.”
An ongoing reset is taking place at Smiggle; the ailing retailer has reduced its store network by 8.7 per cent in just six months. This contributed to a 10.7 per cent decline in sales, with a half-year figure of $140.5 million.
“The strategic review has quickly identified growth opportunities available to Smiggle, and we will be working on product repositioning, simplification and brand elevation over the second half and beyond,” Lew said, adding that he expects the brand to return to growth in the 2027 fiscal year.
Peter Alexander, however, remained a steady source of growth for Premier’s retail division. Sales growth of 4.9 per cent to $312.3 million meant the pyjama retailer has more than doubled its first-half sales in just six years.
Four new Peter Alexander stores were opened during the period, with a further four expanded. Premier Investments said it has identified 15 new opportunities for large-format stores. under the banner
“Peter Alexander performed strongly again in 1H26 and continues to consolidate its position as the country’s leading sleepwear and gifting brand,” Lew added. “The brand’s priorities in the second half are driving further engagement from a loyal customer base and continuing local and global expansion of the brand footprint.”
Premier’s earnings update added that its stake in Breville, which it first acquired in 2009, now stands at 25.2 per cent and is worth $1.13 billion.
