PMV has corrected 10% from its early September high after delivering a strong report in the same month, i.e. Sales were up nearly 10% to $1.64b, and retail earnings (EBIT) was up +6.4% to $356.5m. There are a number of moving parts in this retailer, which includes Peter Alexander and Smiggles in its stable, plus considerable stakes in Myer (MYR) and the Breville Group (BRG), but it remains one of our preferred sector plays.
- We remain bullish on PMV, holding it in our Emerging Companies Portfolio.
MM remains long and bullish PMV
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