Premier Retail, a division of Premier Investments, booked lower sales in the last fiscal year amid weaker performances across the majority of its segments.

The company’s sales declined 2.9 per cent to $1.60 billion, the second-highest sales result in the group’s history after cycling record sales in the prior fiscal year.

Stationery brand Smiggle decreased 7.4 per cent to $296 million and the Apparel Brands business, which includes Just Jeans, Jay Jays, Portmans, Jacqui E and Dotti, fell 6.4 per cent to $790.7 million. However, lingerie and sleepwear brand Peter Alexander’s sales rose 6.2 per cent to $508.6 million.

Meanwhile, online sales, which represented 19.8 per cent of total sales, dropped 2.9 per cent to $315.3 million.

“The last 12 months have highlighted significant future opportunities for each of Peter Alexander, Smiggle and the Apparel Brands,” said Solomon Lew, chairman of Premier Investments.

Lew also updated shareholders on the company’s consideration of Myer’s proposal to acquire Premier’s Apparel Brands business.

“In June 2024, the Premier Board determined that the proposed combination of the Apparel Brands business with Myer warrants further consideration, and work has diligently taken place to analyse this proposal.”

Moving forward, the company’s brands are set to open new stores in different markets, with Peter Alexander opening a store in the UK in November.

Peter Alexander has also identified 20 additional opportunities for new and larger format stores in existing markets while Smiggle has identified 10 opportunities for new stores in existing markets.

Meanwhile, Apparel Brands will launch a new loyalty program in October. Apparel Brands is also looking to optimise its store portfolio and explore new store formats.