Michael Hill bucks Aussie retail downturn

Michael Hill's upmarket strategy is underpinning revenues. (Image: Michael Hill)

Wed, 31 May 2023

Michael Hill International has completed the A$45.1 million ($48.7m) acquisition of mid-market Australian jewellery chain Bevilles in a transaction that coincides with a sharp downturn in the Australian market.In a trading update to the New Zealand stock exchange (NZX), Michael Hill International said the Australian retail jewellery market had “shown a double-digit decline in sales for the first four months of the second half”.“However, Michael Hill group sales for the second half are only down by 3.5%, demonstrating that Mich...

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