SAMS Group Australia
advertisement
SAMS Group Australia
advertisement
SAMS Group Australia
advertisement
Goto your account
Search Stories by: 
and/or
 

News












Michael Hill International has announced a revenue increase across the second half of the financial year despite contrasting results across key markets. | Source: Westfield
Michael Hill International has announced a revenue increase across the second half of the financial year despite contrasting results across key markets. | Source: Westfield

Rising sales highlight memorable year for Michael Hill

Michael Hill International has announced a revenue increase across the second half of the financial year despite contrasting results across key markets.

Sales in Australia improved by 12 per cent, countering declines in New Zealand (12 per cent) and Canada (1.6 per cent).

Revenue in the second half ($AUD278.6 million) increased by 4.9 per cent. CEO Daniel Bracken said these sales figures were pleasing due to difficult trading conditions.

“While challenging economic conditions have persisted across all markets throughout the year, particularly in the fine jewellery segment, the group has continued to outperform the category, with a focus on retail fundamentals and execution of its clearly articulated strategies,” he said.

“While FY24 was disappointing, and trading conditions are expected to remain challenging, initiatives are underway to drive sales and productivity, enhance margin, optimise inventory, prioritise and reduce capital expenditure to protect the balance sheet and further embed cost-conscious discipline across the business.”

Bracken noted the opening of a flagship store in Chadstone and the appointment of Miranda Kerr as brand ambassador as key highlights.

The retailer also reported a double-digit increase in digital sales over the past year. Michael Hill operates more than 170 stores in Australia and around 300 worldwide.

More reading
Contrasting jewellery sales in critical markets for Michael Hill International
Grand opening: Michael Hill opens new flagship store in Chadstone
Miranda Kerr named as Michael Hill ambassador
Change of pace: Michael Hill outlines plans for brand refresh
Greenwashing: Michael Hill tackles controversial issue
Jewellery Chain Stores: Full steam ahead
Sales analysis: Michael Hill identifies positive signs

 











SAMS Group Australia
advertisement





Read current issue

login to my account
Username: Password:
Rapid Casting
advertisement
SAMS Group Australia
advertisement
Rapid Casting
advertisement
© 2024 Befindan Media