Michael Hill International anticipates its half-year comparable earnings before interest and taxes (EBIT) to be between $27 million and $30 million. This represents an increase of up to 24 per cent compared to the previous financial year. Michael Hill International is a jewellery retailer operating across Australia, New Zealand, and Canada. The company specialises in rings, necklaces, earrings, and watches.
Total group sales reached $370.3 million, driven by record sales in Canada and a return to growth in New Zealand. These results highlight the success of the company’s strategic initiatives and market positioning in key regions.
Despite navigating record-high prices for precious metals like gold and silver, Michael Hill maintained a consistent gross margin of approximately 61.3 per cent. This was achieved through a focus on optimising the product mix and implementing effective promotional strategies, demonstrating resilience in a challenging cost environment.
The group has consolidated its store network to 285 locations while continuing to invest in flagship store refurbishments in major cities such as Sydney, Adelaide, and Toronto. These strategic investments aim to enhance the customer experience and further strengthen the brand’s market presence.
