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Australian jeweler Michael Hill’s sales grew during the first 26 weeks of fiscal 2026.
Revenue increased 3.1% year on year to AUD 370.3 million ($255.7 million) for the period that ended December 28, the company said Tuesday in a trading update. Same-store sales in Australia rose 4.8% and those in Canada improved 6%. In New Zealand, same-store revenue climbed 1.8%.
Michael Hill closed three stores and opened one, which brought the chain’s total to 285 at the end of the first six months. It also opened three flagship stores as planned, two in Australia and one in Canada, to increase its retail footprint.
“Under new leadership, the group delivered profitable quarter on quarter growth, driven by significant performance improvement in the final 10 weeks of the first half,” said Michael Hill CEO Jonathan Waecker. “During the critical Christmas trading period, a strong focus on driving customer demand, combined with more disciplined product planning, store operations, and targeted promotional activity, delivered profitable net sales growth while maintaining margin…resulting in the group returning to a positive net cash position at the half.”
Michael Hill will release its full half-year results on February 27.
Image: A Michael Hill store in Melbourne, Australia. (Shutterstock)
