Margin pressure continues at Michael Hill although sales rise

Thu, 16 Jan 2020

Michael Hill International says group sales were up 3.3 percent over the December quarter but gross margins remain below historical levels. The Australasian jeweller said total sales rose to A$203.47 million for 13 weeks to 29 Dec. 2019 from A$197.05 million over the same period last year. On a same-store basis the increase is 4 percent to A$198.06 million. The figures for the Christmas period follow a 9.7 percent lift for the September quarter, while last financial year sales over the Christmas quarter fell by 1.3 percent despite the...

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