Christmas lifts Michael Hill 4.4% in same store sales

Jewellery retailer Michael Hill International (NZX: MHI) has reported a 4.4% lift in same store sales to $221.2 million for the half year to the end of December.

Chairman Michael Hill said today that improved trading conditions during the key Christmas trading period had helped lift the same store figures, which had been flat at the end of the first quarter.

All countries had improved same store trading performance from the first quarter, Mr Hill said.

In North America, where retail conditions remained difficult, some encouraging trends were seen emerging in the second quarter.

In Australia same store sales for the six months lifted 6.2% to $153.3 million, although in local currency terms were up 3.6% to $A124.4 million.

In New Zealand, same store sales were up 5.4% to $51.7 million, while in Canada they fell 12.6% to $16.2 million; in Canadian dollars, sales were down 4.9% to $C12.5 million.

All store sales were up 8.8% in Australia to $163.4 million, or up 6% in the local currency to $A132.6 million. In New Zealand, the rise was 5.5% to $52.3 million, in Canada all store sales were up 7% to $21.1 million, or in Canadian dollars up 16.6% to $C16.3 million.

In the US, all store sales lifted 7% to $7.5 million, or in US dollar terms were up 30.9% to $US5.4 million.

Michael Hill shares closed at 66c yesterday, having ranged between 77c and 45c in the past year, and rose more than 10% to close at 73c today.


Got a question about this story? Leave it in Comments & Questions below.

This article is tagged with the following keywords. Find out more about MyNBR Tags

Comments & Questions

Commenter icon key: Subscriber Verified

Post New comment or question

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.

NZ Market Snapshot

Forex

Sym Price Change
USD 0.7267 -0.0016 -0.22%
AUD 0.9481 0.0015 0.16%
EUR 0.6476 -0.0013 -0.20%
GBP 0.5596 0.0011 0.20%
HKD 5.6342 -0.0110 -0.19%
JPY 73.6520 0.1350 0.18%

Commods

Commodity Price Change Time
Gold Index 1321.0 -5.860 2016-09-28T00:
Oil Brent 49.2 2.720 2016-09-28T00:
Oil Nymex 47.0 2.380 2016-09-28T00:
Silver Index 19.1 -0.050 2016-09-28T00:

Indices

Symbol Open High Last %
NZX 50 7305.4 7349.8 7290.4 0.73%
NASDAQ 5312.7 5320.6 5305.7 0.24%
DAX 10545.6 10575.3 10438.3 0.75%
DJI 18240.2 18349.9 18228.3 0.61%
FTSE 6849.4 6935.8 6849.4 1.12%
HKSE 23828.6 23828.6 23619.7 0.51%
NI225 16606.3 16756.4 16465.4 1.39%
ASX 5412.4 5473.3 5412.4 1.09%