Rapaport News



Rapaport Broadcast
Martin Rapaport’s Webinar on Estate Jewelry
October 30 2019

Advanced search
Latest Articles
Rough Markets
Polished Markets

Michael Hill’s 1H Revenue +10%, Same-Store Sales +5%

Feb 17, 2016 11:09 AM   By Rapaport News
Print Print Facebook Facebook Twitter Twitter Share Share
RAPAPORT... Michael Hill reported group-wide first-half revenue jumped 9.7 percent year on year to $221.1 million (AUD 310.8 million). Same-store sales rose 5.4 percent in the six months that ended December 31.

Profit for the period climbed 5.1 percent to $17.7 million from a year ago, according to a statement February 11.

Sales in Australia, the jeweler’s largest regional sector, advanced 4.2 percent in local currency, while same-store sales increased 3.4 percent. Revenue grew 6.7 percent in New Zealand in local currency, and same-store sales jumped by the same amount, because of continued strength of the Auckland economy.

Canadian sales surged 19 percent in local currency and same-store sales a 5.6 percent as the segment reached “critical mass” in the country’s largest provinces. In the U.S., the three-month closure of the Woodfield Mall in Chicago negatively affected revenue, which still increased 24.7 percent in U.S. dollar terms. Same-store sales in the U.S. increased 0.6 percent.

Same-store sales for the Emma & Roe brand, launched in April 2014, soared 49 percent in the first half. Michael Hill expects a trial of the brand will continue for the rest of the fiscal year before a decision is made whether to proceed with a full expansion program.
Tags: Australia, Canada, Jewelry, Michael Hill, New Zealand, Rapaport News, retail, retailers, u.s.
Similar Articles
Titan CompanyTitan Revenue and Profit Increase
Nov 10, 2019
Revenue and profit at Titan Company rose as the retailer sawgrowth...
Forevermark Opens First US Boutique
Richemont Weathers Hong Kong Storm

Call Us: 1-702-893-9400
Member License Agreement   RapNet Trading Rules & Code of Conduct    Privacy Policy  
twitter twitter
About Rapaport
Advertise with us