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Michael Hill warns weak Australian market will affect full year result

  • News
  • April 9, 2015
  • Elly Strang
Michael Hill warns weak Australian market will affect full year result

Australia has continued to be a difficult market for the company to break into.

Its same-store sales were down 2.1 percent to A$220.8 million in the 9 months ended March 31. For its all-store sales, sales were down 1 percent to A$229 million.

Its second biggest market, New Zealand, was up 4.8 percent from the same period the previous year to NZ$87.3 million.

Same-store sales in Canada rose 15.5 percent in all stores to C$60.6 million.

The United States, where Michael Hill recently advertised on the biggest platform available, the Superbowl, had sales rise by 14.2 percent.

It is still the country that brings in the lowest revenue, at US$7.1 million.

Same store sales growth overall grew 0.9 percent to $A358 million.

The company’s overall half-year profit was A$23.7 million, up 45.9 percent.

The retailer has almost 287 shops worldwide and hopes to have 1000 stores open by 2022.

It opened 11 new stores and closed two stores during the first nine months of the fiscal year.

Chairman Michael Hill remains optimistic and says that management is focused on fixing the downward trend in Australia.

He says that there is still another quarter to go before the full-year result.

The group says it is continuing to refine the Emma & Roe retail model, so the trading update doesn’t include the financial information for those stores.

Emma & Roe is a charm jewellery business launched by Michael Hill.

Two new Emma & Roe stores opened during the first nine months, taking the total to eight stores.

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Military-style semi-automatics ban announced

  • News
  • March 21, 2019
  • The Register team
Military-style semi-automatics ban announced

As of 3pm on March 21, a wide range of semi-automatic weapons have been reclassified under section 74A(c) of the Arms Act as requiring an E endorsement on a firearms license. This means they can no longer be sold to those with A-category gun licenses, and their purchase now requires police approval.

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Retailers gather for insights at NZ Retail and The Register's breakfast

  • News
  • March 21, 2019
  • The Register
Retailers gather for insights at NZ Retail and The Register's breakfast

NZ Retail and The Register’s sales and marketing breakfast saw dozens of Kiwi retailers come together to network, sharing tips and tricks and absorbing expert advice.

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Who stole Christmas?

  • News
  • March 21, 2019
  • Kelly Withers
Who stole Christmas?

Results are starting to trickle in from Christmas 2018/2019, and for many retailers, they're a little disappointing. Paydar chief executive and co-founder Kelly Withers explores the data.

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Zavy and The Register have worked together to create a scoreboard that compares how the top 25 traditional media advertising spenders in New Zealand have performed on social media over the past 30 days, updated in real time.

 
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  • March 21, 2019
  • Radio New Zealand
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Hunting & Fishing New Zealand voluntarily pulls military-style assault weapons from sale

  • News
  • March 20, 2019
  • Sarah Dunn
Hunting & Fishing New Zealand voluntarily pulls military-style assault weapons from sale

In the wake of the attack on Christchurch’s Muslim community on March 15, strong calls for changes to New Zealand’s gun last have been made. Trade Me was the first retailer to act, halting the sale of all semi-automatic weapons on its platform, and it has now been joined by Hunting & Fishing New Zealand.

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