Half year boost-Michael Hill
HighLifeChannel
January 22, 2018
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| Michael Hill’s sales rose 4.7% in the fiscal first half as growth in Canada and New Zealand outweighed a weaker performance in the US.
Sales in Australia rose 1.7% to $148 million (AUD 185 million). Australia is Michael Hill’s largest market, with 172 stores in operation in the country.
Total sales in New Zealand, home to 53 of Michael Hill’s 347 stores, rose 4.1% in the local currency to $50.8 million (NZD 69.7 million). Sales at its 83 Canadian shops surged 18% to $58.7 million (CAD 73.2 million). However, US sales slumped 15% to $5.9 million, with the company closely monitoring its stateside business given the ongoing poor performance, it noted. |
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