WELLINGTON: Michael Hill International, the listed jewellery retailer, said revenue rose 9.1 percent in the first nine months of its financial year as sales increased across all of its four geographic markets.
Revenue at its Michael Hill and Emma & Roe jewellery chains advanced to A$420.8 million in the nine months ended March 31, from A$385.9 million a year earlier, the Brisbane-based company said in a statement.
Sales at its Michael Hill stores in Australia, the company’s largest market, rose 4.3 percent to A$238.7 million, or by 3.5 percent excluding changes in stores. In New Zealand, Michael Hill sales gained 6.5 percent to NZ$93.7 million, with the percentage gain unchanged on a same-store basis. In Canada, sales rose 20 percent to C$72.4 million, or 5.8 percent on a same-store basis. Sales at US stores jumped 29 percent to US$10.5 million, or 2.9 percent on a same-store measure. The retailer added eight Michael Hill stores during the period, taking the total to 295.
The company’s fledgling Emma & Roe chain boosted Australian sales 83 percent to A$6.3 million, or by 40 percent on a same-store basis. Its New Zealand sales for the brand gained 165 percent to NZ$545,694. It opened six new Emma & Roe stores during the period, taking the total to 14. The company said the brand is still in a “trial phase”, and it plans to open a further two stores before the end of the financial year.
