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Australian jeweler Michael Hill reported an improvement in same-store sales in Australia and Canada during the first 16 weeks of fiscal 2026.
Revenue dropped 1.3% year on year for the period that began June 30, the company said Wednesday. Same-store sales in Australia grew 0.7%, and those in Canada 4.1%. In New Zealand, same-store revenue fell 6%.
Michael Hill closed 13 stores, which brought the chain’s total to 284 during the period. However, it plans to open three flagship stores — two in Australia and one in Canada — to strengthen its retail footprint.
“As we prepare for the all-important Christmas trading period, we are encouraged by a year-on-year… uplift in group gross margin in the first 16 weeks,” said CEO Jonathan Waecker. “Additionally, our Canada segment — our second-largest market — continues to deliver record-breaking sales performance, reinforcing its role as a key growth engine.”
Image: A Michael Hill store in Toronto, Canada. (Shutterstock)
