Increase in Michael Hill's sales despite store closures

Thu, 15 Apr 2021

Jewellery chain Michael Hill International looks to have rebounded following the forced closures of its stores. In a trading update for the third-quarter of the 2021 financial year, it noted that same-store sales were up 16.4%, with all store sales up 11.6% for the quarter against the same quarter in the prior year.It said 16 Auckland stores were temporarily closed twice for a total of 10 days, which resulted in 160 lost trading days during the quarter. However, all 49 of its New Zealand stores are now trading.The group had a positive cash...

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