|
|
Michael Hill Sales +5% in FY12
Jul 15, 2012 4:17 AM
By Avi Krawitz
|
|
|
RAPAPORT... Michael Hill, a New Zealand-based jewelry retailer, reported that sales rose 5 percent year on year to $408.2 million (NZD 510.3 million) during the year that ended June 30, 2012, as sales in the U.S. outpaced other markets. Total same-store sales were flat at $378.6 million (NZD 473.2 million) for the year.
While the past 12 months had its challenges, especially in the company's largest market, Australia, the directors were satisfied with overall performance and in particular the growth achieved in New Zealand, Canada and the United States, the company stated.
Sales in Australia rose 2 percent to $267.1 million (NZD 333.9 million) while same- store sales fell 3 percent. In New Zealand, sales grew 7 percent to $87.4 million (NZD 109.2 million) with same-store sales up 7.3 percent. Sales in Canada grew 14 percent to $44.2 million (NZD 55.2 million) but same-store sales rose by just 1 percent. Sales in the U.S. increased 13 percent to $9.6 million ($12 million) with same-store sales up 12 percent.
Sales figures included 11 months adjusted results and preliminary sales figures for June. Michael Hill is scheduled to report its full year results on August 17.
|
|
|
|
|
|
|
|
|
|
Tags:
Avi Krawitz, diamonds, jewellery, Jewelry, Michael Hill, Rapaport
|
|
|
|
|
|
|
|
|
|
|