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Michael Hill Sales +5% in FY12

Jul 15, 2012 4:17 AM   By Avi Krawitz
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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
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