PMV which owns the likes of Portman’s, Peter Alexander and Smiggles has been drifting lower over the last 6-months to find itself 26% below its late 2021 high, a common theme through the sector and interest rate sensitive stocks more generally. The retailers recent half-year results showed sales up 0.6% to $770mn helped by strong on-line growth, its NPAT came in at $163.6mn which enabled the company to lift the stocks dividend to 46c fully franked, putting the stock on a more than 4% fully franked yield.
Sentiment is against the stock and sector but into ongoing weakness value is being restored and this could prove to be a solid yield play closer to $20.