Retail

Nick Scali upgraded 1H26 guidance, lifting NPAT and ANZ revenue growth, supporting earnings upgrades and a Buy recommendation with a $28.00 price target.

Universal Store (UNI) remains on track with solid sales, margin gains, and reaffirmed expansion plans, supporting a maintained Buy recommendation and $10.50 price target.

Harvey Norman’s 1H25 results exceeded expectations, with a 3% price target increase to $6.00, and maintaining a Buy recommendation.

We summarise the AX1 trading update for the first 20 weeks of the FY25, while continuing to view the company as a key pick in our retail sector coverage.

Premier Investments (PMV) recently announced the proposal received from Myer Holdings to divest PMV’s non-core Apparel Brands to Myer via an all-script sale.

We revisit Cettire's fulfilment and returns policy including the latest customer reviews in comparison to luxury e-commerce peers since our last assessment in Nov-22.