Down under dynamics: NZ retailers buoyed by Aussie units

The words “New Zealand market conditions were particularly challenging”, or phrases to that effect, are showing up regularly in company disclosures on both sides of the Ditch – but things remain brighter in Australia. “Despite the focus and effort from the business, external economic factors continue to present challenging retail conditions in NZ,” said Michael Hill International in recently released half-year earnings to Dec 29.On a same-store basis, Canadian and Australian sales were up 2.7% and 0.6% respect...