Michael Hill Q1 sales rise 9.7%; margin compression continues

Michael Hill Q1 sales rise 9.7%; margin compression continues
Gavin Evans
Jeweller Michael Hill International reported a 9.7 percent lift in September-quarter sales but said margin compression continues.Sales increased to A$124 million in the period, and were up 11.9 percent when adjusted to reflect a new store opened in Canada and three closures in Australia, the Brisbane-based firm’s biggest market.Growth was strongest in Canada, where sales improved 16.4 percent to C$27.2 million on a same-store basis, and in New Zealand, where they rose 10.1 percent to $25.5 million on a same-store basis.Chief executive Daniel Br...

More Retail

Laybuy merchants can expect delays to queries
Retail

Laybuy merchants can expect delays to queries

Merchants have been sent a letter saying they may be owed money.

John Anthony 21 Jun 2024
KMD Brands guidance undershoots analysts' forecasts
Retail

KMD Brands guidance undershoots analysts' forecasts

Group sales between February and May have fallen 8.4% year-on-year.

ComCom extends decision on Foodstuffs merger ... again
Retail

ComCom extends decision on Foodstuffs merger ... again

ComCom said it will issue a 'statement of unresolved issues'.

Gregor Thompson 21 Jun 2024
Foodstuffs settles land covenants case
Retail

Foodstuffs settles land covenants case

Fines can reach up to $10 million or three times the commercial gain, ComCom said.

Gregor Thompson 19 Jun 2024