Sales at Michael Hill rose during the first 14 weeks of fiscal 2025, suggesting a positive outlook for the holiday season. The jeweler, which operates in Australia, New Zealand, and Canada, reported a 4.3% year-on-year revenue increase for the period starting July 1. Same-store sales also saw a growth of 4%.
The company noted significant improvement in gross margins compared to the second half of fiscal 2024.
During this 14-week period, Michael Hill opened one new store and refurbished three existing ones. Additionally, the company launched two new branches of its Bevilles jewelry chain, bringing the total to 38 locations.
Managing Director and CEO Daniel Bracken expressed optimism about the upcoming Christmas trading period. He emphasized the encouraging sales momentum and mentioned a new holiday campaign, along with the introduction of a “pendant bar” concept in stores, as factors that will position the company well for this critical season.
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