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Premier Investments (ASX:PMV) is a retail group that value-focused managers see as undervalued after a sharp share price fall. In May 2026, Ellerston Capital described Premier as the cheapest retailer on the ASX, trading near a ten-year low at a cyclical low in earnings with potential for its multiple to expand. Ralton initiated a position, noting much of the valuation is supported by Premier's stake in Breville, while the market price implies deep scepticism about Smiggle's profitability. Airlie highlighted Premier's roughly 25% Breville holding but flagged disappointing performance since it divested its apparel brands. Premier Investments operates in the Consumer Discretionary sector within the Specialty Retail industry, and Thesis Tracker has captured 27 comments from 13 fund managers, including Ellerston, Ralton, Airlie and Sage Capital. Premier operates the Peter Alexander and Smiggle retail chains and holds major investments in Breville Group.
Company figures as of 15 Oct 2026. For information only.
Fund managers including Endeavor Asset Management, Blackwattle Investment Partners, Ausbil Investment Management, Datt Capital, Yarra Capital Management, Airlie Funds Management, Perpetual Asset Management, Perennial Partners, Clime Investment Management, Ellerston Capital, Lanyon Investment Fund, Oracle Advisory Group, Sage Capital and Ralton Asset Management have invested in Premier Investments Ltd (ASX:PMV).
Ellerston sees Premier as the cheapest listed retailer with multiple expansion potential, and Ralton highlights the value of its Breville stake underpinning the share price. Sage noted Premier rallied sharply when the RBA paused interest rate hikes, showing its leverage to improved consumer conditions.
Airlie notes Premier downgraded its first-half FY26 profit guidance and has disappointed since divesting its apparel brands, with issues concentrated in Smiggle, which Ralton says the market distrusts. Earnings are exposed to discretionary retail spending.
Premier Investments Limited (PMV) is a retail group operating specialty retail chains across Australia, New Zealand, Asia, and Europe. In addition to its retail operations, the company maintains a diversified asset portfolio, which includes investments in listed securities, property holdings, and money market deposits.
General information only. Thesis Tracker reports what named fund managers have published about ASX companies. It does not take into account your objectives, financial situation or needs, and is not financial product advice or a recommendation to buy, sell or hold any security.
11,356 comments from 164 managers on 761 companies, snapshot 15 Oct 2026.