Michael Hill first-quarter sales rise 9.9%, sees stable gross margin after difficult second half last year

Jonathan Underhill
Wed, 07 Oct 2015

By Jonathan Underhill Oct. 8 (BusinessDesk) - Michael Hill International, the listed jewellery retailer, said first-quarter sales rose 9.9 percent, driven by a combination of new store openings and increased revenue from existing stores. Sales rose to A$112.5 million in the three months ended Sept. 30, from A$100.9 million a year earlier, the Brisbane-based company said in a statement. Same-store sales gained 6 percent to A$107 million. The retailer reported weaker earnings in Australia, its largest market, in the year ended June 30, a...

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