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Michael Hill International Ltd. ( (AU:MHJ) ) has provided an announcement.
Michael Hill International Ltd. reported its financial results for the half-year ending December 2024, showing a slight decrease in revenue by 0.7% to $360.2 million, while gross margin improved to 61.3%. The company faced challenging economic conditions, particularly in New Zealand, but saw strong sales growth in Canada and a modest increase in Australia. Digital sales also grew, supported by omni-channel initiatives. The company is focusing on reducing costs and optimizing its store network, including expanding the Bevilles brand. Despite the challenges, the company successfully introduced higher margin gifting products and elevated its sustainable diamond offerings.
More about Michael Hill International Ltd.
Michael Hill International Ltd. is a retailer in the jewelry industry, primarily offering a range of jewelry products with a focus on expanding its market presence through brand initiatives and store network optimization.
YTD Price Performance: -20.34%
Average Trading Volume: 35,232
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: A$180.8M
Learn more about MHJ stock on TipRanks’ Stock Analysis page.
