Ram raiders hit Michael Hill's bottom line

Ram raiders hit Michael Hill's bottom line
Ram raiders add costs, reduce sales for Michael Hill. (Image: NZME)
Ian Llewellyn
Michael Hill International’s annual results have highlighted its attempts to move into the high-end market and the cost of ram raids on its New Zealand stores.For the 53-week year ending July 2, 2023, the jeweller reported comparable group earnings before interest and tax (Ebit) of A$58.9 million (NZ$63.87), down 6.8% from A$62.9m in the prior year. This was the result of inflationary cost pressures and added NZ security costs.Its NZ retail revenue increased by 5.8% to NZ$132.4m for the year, with a gross margin of 61.9%, compared with 63...

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