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Michael Hill International Ltd. ( (AU:MHJ) ) has issued an announcement.
Michael Hill International Ltd. reported a challenging trading environment for the first half of FY25, impacted by macroeconomic pressures, particularly in New Zealand. The company anticipates a drop in comparable EBIT and experienced a slight decline in group sales. Despite these challenges, Canada saw record sales growth, and new product initiatives helped maintain a strong gross margin. The company managed to reduce inventory levels and capital expenditures while closing several stores to streamline operations. Positive sales momentum returned in December and January, especially in Canada, indicating potential recovery as economic conditions improve.
More about Michael Hill International Ltd.
Michael Hill International Ltd. operates in the jewelry retail industry, specializing in a range of products including diamond collections and personalized jewelry options. The company is focused on expanding its market presence in key regions including Australia, New Zealand, and Canada.
YTD Price Performance: -5.08%
Average Trading Volume: 44,278
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$215.5M
See more insights into MHJ stock on TipRanks’ Stock Analysis page.
