Australian Retail & Consumer Sector: Jun-26 Store Network Tracker in the Australian Retail & Consumer Sector

研报英文原文证据摘录

Australian Retail & Consumer Sector: Jun-26 Store Network Tracker in the Australian Retail & Consumer Sector

Global Research

16 June 2026ab

Australian Retail & Consumer Sector Equities

AustraliaJun-26 Store Network Tracker in the Australian

Retail & Consumer Sector Retail

Shaun Cousins

Analyst

shaun.cousins@ubs.com

Australian Retail & Consumer Store Network Tracker - June 2026 +61-2-9324 3844

UBS Jun-26 Australian Retail & Consumer Store Network Tracker monitors the progress James Meares

of store roll-outs across DMP, GYG, LOV, UNI, where net store growth is a key feature of Analyst

the investment thesis. The note utilises data available from the respective companies' james.meares@ubs.com

websites, compiled together to show the trajectory of store/restaurant networks on +61-29-324 3575

both a financial year and intra-period basis. Zack Pontey

Associate Analyst

DMP - Buy rated, now A$22.00/share price target (see UBS Research) zack.pontey@ubs.com

DMP store network is 3478 as at 16-Jun-26, down 40 stores since 1H26, reflecting the +61-2-9324 2475

priority on franchisee & DMP profitability. By division: ANZ 886 (-2 since 1H26), Asia Stephanie La

1274 (-13 since 1H26), Europe 1318 (-25 since 1H26). UBSe FY26E store network 3482 Associate Analyst

vs Visible Alpha 3518. DMP provided the following outlook at its 1H26 result: reiterated stephanie.la@ubs.com

FY26E underlying NPAT to be above then Visible Alpha (VA) NPAT (A$118.7m) as made +61-2-9324 2655

at its 2025 AGM; additional ~A$15-25m of cost savings, on top of initial A$60-70m

(reduced headcount, lower food & packaging costs [SKU simplification & streamlined

pizza boxes]), with franchisees to receive 2/3 of these savings; 1st 8wks 2H26E SSSg -

7.2% (+1.5% 1st 7wks pcp), negatively impacted by weather in NED & GER, later