Analysts optimistic on Michael Hill

Analysts optimistic on Michael Hill
Michael Hill said the cost of raw materials was increasing. (Image: BusinessDesk)
Victoria Young
Analysts have lowered their target prices on Michael Hill International following Friday’s trading update but remain positive.The jeweller said on Thursday that trading conditions were difficult, and it expected first-half earnings before interest to be between $30 million and $33m, compared with $54.4m in the previous corresponding period.It said gross margin would be in the range of 61-62%, down from 65.2%.  Shares fell by 1c to 95c during the day and traded at 92c late Monday afternoon.'Earnings nadir'Macquarie retain...

More Retail

Michael Hill buffs up security as robbery costs climb
Retail

Michael Hill buffs up security as robbery costs climb

The jeweller has invested in new smash-proof assault glass and fog cannons.

Gregor Thompson 01 May 2024
Mighty Ape’s profits rise in quarterly update
Retail

Mighty Ape’s profits rise in quarterly update

 This growth came despite gross sales falling 9.2% to $30.4m.

Staff reporters 26 Apr 2024
Website duplication scams haunt NZ retailers
Retail

Website duplication scams haunt NZ retailers

Increasingly sophisticated obfuscation technology is making scams harder to resolve.

Gregor Thompson 22 Apr 2024
Menulog exits NZ
Retail

Menulog exits NZ

Online food delivery platform Menulog will discontinue its New Zealand operations in May.Parent company Just Eat Takeaway confirmed the decision today, saying: “New Zealand represents a small part of the Just Eat Takeaway.com business and its size is insufficient to maintain a he...

Staff reporters 16 Apr 2024