Michael Hill Q1 sales rise 9.7%; margin compression continues

By Gavin Evans | Fri, 11 Oct 2019


Jeweller Michael Hill International reported a 9.7 percent lift in September-quarter sales but said margin compression continues.Sales increased to A$124 million in the period, and were up 11.9 percent when adjusted to reflect a new store opened in Canada and three closures in Australia, the Brisbane-based firm’s biggest market.Growth was strongest in Canada, where sales improved 16.4 percent to C$27.2 million on a same-store basis, and in New Zealand, where they rose 10.1 percent to $25.5 million on a same-store basis.Chief executive Daniel Br...