Premier; teaching Phil Ryan a lesson in retailing

Premier held its AGM yesterday:

- the group achieved record sales during this year’s Black Friday
- the group achieved its best ‘global online’ sales from a trading week
- the group enjoyed a 23.6% increase in ‘global’ sales for the first 17 weeks of fiscal 2023
- Shaw Partners said Premier appeared well-placed to ‘materially beat’ consensus expectations for the first half of the 2023 fiscal year


SMACK!

This is direct and irrefutable evidence the CCX trading update was appalling and which demonstrated CCX has lost its growth plot under Phil Ryan in recent months.

No bull# being spun about Wars in Ukraine and soft consumer this and that, inflation in supply chains garbage etc.

Just top notch retail sales execution by the master retailer in Australia.

CCX’s sales growth forecasts were culled by brokers by up to 40% annually in the coming 3 years, again, 40%. CCX online sales have fallen 20% since 1 July 2023. Disgraceful.