Australian jeweler Michael Hill reported an improvement across all segments for the first 16 weeks of fiscal 2027, as it introduced new campaigns and in-store events.
Group same-stores sales were up 2.3% in Australian dollar terms for the period that ended October 18, the jeweler said last week. In local currencies, same-store sales in Canada rose 11%, those in Australia climbed 4% and New Zealand advanced 7%.
The company’s new color, bridal and tennis bracelet collections, with a boost from go-to-market campaigns and in-store events, attracted new customers and saw existing ones coming back.
The 16 weeks also presented a more challenging trading environment than the same period last year, particularly in Australia, the company’s largest market. Interest rates have risen four times this year, putting pressure on household budgets. Despite these challenges, the figures indicate that the company’s go-to-market initiatives are gaining traction and its strategy is beginning to deliver results, the company added.
Michael Hill opened a flagship store in Auckland, New Zealand, in July and will add another in Sydney, Australia, next week. The company will also roll out a store in Richmond, New Zealand, and relaunch a gallery in Perth, Australia, in November.
“Christmas is our most important trading period, and despite the uncertain economic environment, we’re optimistic about the opportunity ahead,” said CEO Jonathan Waecker. “Our focus from here is simple: execute our plan well and deliver a fantastic Christmas for our customers.”
Image: A Michael Hill store in Queensland, Australia. (Michael Hill)
