Michael Hill shakes off Canadian store closures

Gross profit for the Michael Hill's NZ stores rose 2.9% to $42.3m.

Wed, 24 Feb 2021

Listed retailer Michael Hill has reported increased net profit of A$39 million, a more than 80% rise compared with the same period in the previous financial year, for the 26-week period ended Dec 27.The retailer said earnings before interest and tax increased 66.9% to A$58.9m even though, as a result of covid-19 lockdowns, it had lost 3,709 store trading days at a cost of about A$23m.Total revenue dropped 2.9% to A$319.9m while in-store sales grew 6.3% to A$312.1m.Revenue from its Australian stores stayed steady despite store closures earning A...

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