As part of a trading update, Michael Hill’s comparable sales rose 6.6 per cent during the first 16 weeks of the financial year. Canada led growth at 11.3 per cent, followed by New Zealand at 7.1 per cent, and Australia at 4 per cent.
This sales growth follows record financial year revenue of $AUD655.7 million. The company attributed sales increases to refreshed marketing campaigns and new colour, bridal, and tennis bracelet ranges.
A statement said these initiatives attracted new customers and encouraged existing ones to return. Group CEO Jonathan Waecker further highlighted the company's improved product offering and retail execution.
“Our product offer is stronger, our go-to-market campaigns are resonating, our teams are energised, and we’re executing with greater consistency,' he said.
“Christmas is our most important trading period, and despite the uncertain economic environment, we’re optimistic about the opportunity ahead. Our focus from here is simple: execute our plan well and deliver a fantastic Christmas for our customers.”
The company operates Michael Hill and Bevilles stores, with about 280 locations across both brands.
Earlier this year, Michael Hill confirmed that Rob Fyfe will retire as chair of the company’s board. Fyfe has served on the board for 13 years, including five as chair. Board member Claudia Batten will become chair when Fyfe retires this month.
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