Michael Hill Revenue Flat in Challenging Market
August 27, 25
(IDEX Online) - Australia-based jewelry retailer Michael Hill International says revenue for FY 2025 - the year to 29 June 2025 - was broadly flat compared with the previous year, down 0.2 per cent to AUD 643.7m (USD 431.3m).
Trading conditions remained challenging, it said, with the addition of volatile gold and diamond prices and US tariffs.
However group sales for the first seven weeks of FY 2026 were up 3.0 per cent year-on-year, and same store sales were up 3.2 per cent.
The company has 287 stores (down from 300 last year) in Australia, New Zealand and Canada, including low-price retailer Bevilles, Medley, and its new luxury business TenSevenSeven.
"Global economic uncertainty and challenging retail trading conditions persisted across all markets, with full year sales, gross margin and earnings broadly in line with prior year," the company said in its Full Year Results, published yesterday (25 August).
Michael Hill chair Rob Fyfe paid tribute to CEO Daniel Bracken, aged 57, who died suddenly in February, and to founder Sir Michael Hill who died of cancer, aged 86, in July.
Pic courtesy Michael Hill.