Michael Hill sales lift
Michael Hill International, the jewellery chain that bears the name of its founder, expects first half earnings to rise after reporting a 10 per cent lift in sales over the period.
Anticipated earnings before interest and tax were between $A29 million and $A30 million in the six months ended December 31 from $A28.6m a year earlier, the Brisbane-based NZX-listed jeweller said in a statement.
It comes after sales rose to $A270.8m across all its stores from $A246.3m in 2013.
The revenue gains were led by a 38 per cent increase in Michael Hill’s Canadian stores, which generated $A39.4m, up from $A28.5m.
New Zealand sales, when converted into local currency from the Australian dollar which the company reports earnings in, fell 4.1 per cent, to $NZ60.9m. Inside Retail – Read more…