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Pandora has reported double-digit sales increases in all regions, including Australia
Pandora has reported double-digit sales increases in all regions, including Australia

Sales increase for Pandora, Michael Hill

Pandora has released its full-year report, which shows a steady revenue climb, while Michael Hill has also finalised its half-year sales figures with positive results.

Pandora’s 2015 global revenue increased 40.2 per cent to DKK16.7 billion (AU$3.5 b) compared with the previous year.

Brien Winther, Pandora Australia and New Zealand president
Brien Winther, Pandora Australia and New Zealand president

Sales in Australia accounted for 6.7 per cent of Pandora’s global revenue, lifting 39 per cent to DKK1.1 billion (AU$235.6 million) for the full year.

Brien Winther, president of Pandora Australia and New Zealand, said all product categories had performed “extremely well”, adding that the brand was beginning to attract a younger demographic.

“It is really pleasing to see that our hand-finished bracelets and bangles continue to sell very well, with our bangles attracting a younger consumer,” he commented. “We continue to sell sterling silver and 14-carat gold rings extremely strongly, and again, this has meant a younger consumer shopping in our stores.”

For the entire Asia-Pacific region, Pandora recorded a 58 per cent lift in sales to DKK2.7 billion (AU$556.6 million). The Americas and Europe also reported double-digit revenue increases of 31.8 per cent and 42.3 per cent, respectively.

Pandora predicted that its global revenue would exceed DKK19 billion (AU$4 b) in 2016. It was also noted that revenue in Australia and New Zealand, specifically, was expected to increase more than 30 per cent from 2015 to 2018.

Pandora has a presence in more than 100 countries, with approximately 9,300 points of sale. Globally, the company has more than 1,800 concept stores, including more than 100 across Australia and New Zealand.

Michael Hill results

Michael Hill International (MHI) has also provided an update on its earlier preliminary figures for the six months ended 31 December 2015.

Global revenue for the first half increased 9.7 per cent to AU$310.8 million compared with the previous corresponding period.

Mike Parsell, Michael Hill International CEO
Mike Parsell, Michael Hill International CEO

While it was noted that the Australian retail market continued to be a “challenging environment”, Australian sales for MHI’s Michael Hill business increased 4.2 per cent to AU$175.6 million. In New Zealand, the Michael Hill business also experienced a 6.7 per cent lift in sales to NZ$67.5 million (AU$62.8 m).

Further abroad, the Michael Hill business reported an 18.8 per cent revenue rise to CA$53.3 million (AU$53.9 m) in Canada and a 24.7 per cent increase to US$7.4 million (AU$10.3 m) in the US.

The Emma & Roe business recorded a total revenue of AU$5 million for the first half, a 97.6 per cent increase on the previous corresponding period.

Emma & Roe, which was launched in April 2014, has 10 stores in Australia and one store in New Zealand, however a regional breakdown was not provided, with a company statement explaining the brand was still “in test mode”.

MHI CEO Mike Parsell commented, “While first half results were satisfactory, it was particularly pleasing to see both revenue and [operating profit] growth come from our largest market, Australia, given the continuing lack in consumer confidence in many parts of the country.”

At the end of 2015, MHI had a total of 293 Michael Hill-branded stores worldwide, including 166 in Australia, 52 in New Zealand, 65 in Canada and 10 in the US.

More reading
Michael Hill, Pandora increase sales in 2015
Pandora jewellery sales on the up and up
Pandora jewellery strongest ever result
New leadership for Michael Hill jewellery
Michael Hill jewellery struggles in Australia

Wednesday, 20 March, 2019 01:41am
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