Michael Hill Sales Grow Amid Strong Holiday Results

Revenue at Michael Hill rose 3% year on year in the first fiscal half, gaining a boost from positive holiday figures.

Sales came to AUD 371 million ($263.9 million) for the six months that ended December 28, the Australia-based jeweler said last week. The expanded range of curated holiday gift sets addressed diverse customer needs during the peak season, sustaining momentum across key markets, the company explained.

Revenue in Australia gained 2.1% to AUD 209.1 million ($148.7 million), while same-store sales improved 4.8%. In New Zealand, sales grew 2.4% to NZD 62 million ($37.2 million) and increased 1.8% on a same-store sales basis. Meanwhile, in Canada revenue rose 6% to CAD 96.3 million ($70.6 million). Same-store sales in that country also advanced 6%.

For the first eight weeks of the second fiscal half, group sales improved 4.5% year on year, with same-store sales rising 6% in total. Australia was up 7%, New Zealand grew 7% and Canada increased 13%.

“While we remain mindful of current economic conditions, the first half demonstrates that consistent execution of retail fundamentals is translating into improved performance for the group,” said Michael Hill CEO Jonathan Weacker.

In total, Australia has 160 stores, including 37 Bevilles locations. New Zealand numbers 43 shops, and Canada operates 82.

Image: A Michael Hill store in Auckland New Zealand. (Shutterstock)