Michael Hill shares fall as trans-Tasman sales shrink

Wed, 10 Apr 2019

By Paul McBeth April 10 (BusinessDesk) - Michael Hill International shares fell 5.7 percent after the jewellery chain reported weaker sales in its core Australian and New Zealand markets in the first three months of 2019. Total sales fell 0.8 percent to A$117.6 million in the March quarter, and were down 1.5 percent on a same-store basis. That was due to a 3.2 percent decline in Australian sales to A$61.9 million and a 6.3 percent fall in New Zealand sales to NZ$24.7 million. Canada was the highlight for the retailer, with sales up 2.5 pe...

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