Michael Hill International has reported a 3.4 per cent year on year sales increase to $366 million (AUD 495.6 million) for the year that ended on June 30. Same-store sales for this time improved only 0.7 per cent.
In Canada, the brand’s sales surged 14.6 per cent to $61 million (CAD $79.1 million), and same-store sales rose 2.5 per cent. The company’s U.S. market, which is its smallest, also rose 13 per cent to $11.3 million, with comparable-store sales increasing 3.5 per cent.
Meanwhile, in Australia—the jeweller’s largest market—sales fell 1.4 per cent to $217 million (AUD 294.4 million), while comparable-store sales slipped 2.5 per cent. The company will release its comprehensive financial report on August 14. CJ
Author: Canadian Jeweller Magazine Staff
Canadian Jeweller Magazine Staff is the shared byline for reporting filed by the magazine's editorial desk. Founded in 1879, Canadian Jeweller is the longest running jewellery business publication in Canada, covering market reporting, retail strategy, watches, diamonds, coloured gemstones and the commerce of the Canadian jewellery trade. Work published under this byline is edited and verified by the Canadian Jeweller editorial team in Toronto.
