Michael Hill's NZ stores underperform

It has been a tough year trying to sell jewelry. (Image: NZME)

Mon, 24 Feb 2025

Michael Hill International’s New Zealand stores underperformed the business in its latest half-year financial results amid challenging retail conditions at home.The jeweller reported group revenue of A$360.2 million (NZ$398.98m) for the half year to Dec 29, down 0.7% compared with the previous corresponding period (A$362.7m).Comparable earnings before interest and tax (ebit) fell to A$24.1m – at the upper end of previous guidance – compared with A$31.3m in the first half of 2023.Statutory net profit after tax for the half...

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