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New Zealand, U.S. Growth Boosts Michael Hill's Sales

Apr 12, 2016 2:56 AM   By Rapaport News
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RAPAPORT... Michael Hill reported revenue jumped 9.1 percent year on year to $320.2 million (AUD 420.8 million) in its first three fiscal quarters as sales advanced in each of its regional divisions.

Total same-store sales rose 5.1 percent in the nine months to March 31, the New Zealand-based jeweler said. The biggest same-store revenue increase in local currency terms was recorded on the home turf, at 6.5 percent, while the U.S. registered the fastest growth in all sales with a 29-percent surge.

The company also reported a robust nine-month performance at the Emma & Roe brand it launched in April 2014, with same-store sales growing 40 percent and total revenue soaring 87 percent to $5.2 million. The group opened six new Emma & Roe stories, giving a total of 14, and plans a further two before the end of the financial year.
Tags: Emma & Roe, Jewelry, Michael Hill, New Zealand, Rapaport News
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