Premier Investments delays Smiggle spin-off
Solomon Lew’s Premier Investments will delay a potential spin-off of the Smiggle stationery chain, dumping its targeted timetable for a January 2025 separation while it prioritises work on a possible merger of its apparel brands with Myer.
The Peter Alexander sleepwear business – also earmarked for a demerger – was the strongest performer for Premier over the past year, with its 6.2 per cent growth thumping the Smiggle stationery chain’s 7.4 per cent slide in turnover for the 12 months to July 27.
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