Michael Hill finds new transition harder than anticipated as first qtr sales fall

Sun, 14 Oct 2018

By Paul McBeth Oct. 15 (BusinessDesk) - Michael Hill International is finding it harder to shift away from discount pricing than it anticipated, posting an 8.8 percent decline in first-quarter sales. The jewellery chain's sales from continuing operations fell to A$112.12 million in the three months ended Sept. 30 from A$122.9 million a year earlier. Same-store sales posted a sharper decline of 11 percent. The retailer restructured its business this year, quitting the US and exiting its Emma & Roe sub-brand to focus on high-margin sal...

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