Retail bares it all

Wilson Asset Management

Wilson Asset Management

Retail brands OrotonGroup Limited (ASX:ORL) and Premier Investments Limited (ASX:PMV) released its results this week. OrotonGroup management said the company had a solid start to FY16 with stronger than expected FY15 sales of $132 million. ORL recorded a net profit after tax of $2.6 million for the year, a drop of 68% from the prior year's $8.3 million. OrotonGroup exited its interests in the Brooks Brothers joint venture in July and expanded its Gap brand. OrotonGroup's international arm opened six stores and closed three in FY15, improving its underlying loss from $3.4 million to $2 million. Premier Investments posted a net profit of $88.1 million, a 20.7% increase on the previous year's $73 million due to strong sales and margin growth at both stationery brand Smiggle and sleepwear brand Peter Alexander. Total sales for the company rose 6.4% to $946 million with all brands reporting positive sales growth. We own Premier in the investment portfolio.


Wilson Asset Management

Wilson Asset Management has a track record of making a difference for shareholders and the community for more than 20 years. As the investment manager for eight leading LICs – WAM Capital (ASX: WAM), WAM Leaders (ASX: WLE), WAM Global (ASX: WGB),...

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