Sharechat Logo

Michael Hill expecting higher half year earnings

Thursday 13th January 2011

Text too small?

Jeweller Michael Hill International is reporting a 9.8% rise in same store sales for the six months to the end of December, compared to a year earlier.

It is forecasting a rise in earnings before interest and tax for the half year to between $32 million and $34 million, compared to $30.3 million for the corresponding period a year earlier.

Chairman Michael Hill said sales in the second quarter, including the key Christmas trading period, held up well with same store growth of 7.7%.

Directors were specially pleased to see sales in Canada and the US bounce back after tough trading conditions since late 2007, but retail conditions remained difficult in North America, Mr Hill said.

Total same store sales for the six months were up to $260.8 million, with total all store sales up 9.9% to $268.7 million.

In this country same store sales were up 6% to $55.6 million and all store sales rose 7% to $56.1 million, while in Australia same store sales were up 5.8% to $A138.3 million ($NZ180.8 million) with all store up 6.3% to $A141.1 million.

Canadian sales lifted 15.2% same store to $C17.2 million ($NZ22.8 million), and gained 23.6% on all stores to $C20.1 million.



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

Freightways Limited (NZX: FRE) Acquisition of ProducePronto
19th October 2021 Morning Report
PGG Wrightson Limited (NZX: PGW) Guidance Update
Vital Limited (NZX: VTL) Provides Update on PSN LMR
18th October 2021 Morning Report
T&G Global Limited (NZX: TGG) FY21 Earnings Guidance Update
Arvida Group Limited (NZX: ARV) Successful Completion of $155m Placement
FreshLeaf: Cannabis on course to be 'medicine of the masses'
Arvida Group Limited (NZX: ARV) to Acquire Arena Living Retirement Living Portfolio
My Food Bag Group Limited (NZX: MFB) Market Update and HY Results Announcement Date