Jewelery company Michael Hill said that its sales increased by 5.7% to $ 240.3 million in the first half of the fiscal year despite the sluggish US sales figures.
Global comparable sales increased by 1% during the six months ended December 31, said Australian jewelery house.
Michael Hill sales in retail stores in Australia rose by 3% to $ 133.4 million, while in Canada, revenues jumped 18% to $ 47.9 million.
However, US sales fell by 5.9% to $ 7 million, and the company is trying to revive growth in the region.
"Our business in the United States in the December quarter showed poor results", - said in a statement. Comparable sales in the US fell by 8.8% for the full six months of the financial year. "We continue to experiment with our marketing strategies and a variety of goods for six months and are confident that, together with the recent changes in the management team, this will allow us to improve our results in the second half of the year", - concluded the Michael Hill.
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Dallas Company The Diamond Doctor and Southwest Diamond Cutters teamed up to create the "cutting-edge" cutting and polishing businesses, Rapaport reports portal.
The Diamond Doctor, specializing in the wholesale and retail sale of jewelry, and Southwest Diamond Cutters, owned by master diamond cutters in the fifth generation, will open in Farmers Branch company with 14 cutters and administrative staff. It is planned that the company will start operating in mid-2016, it said in a statement on March 14.
"This new facility will allow us to manage the diamond-cut process and minimize the cost of payments to third parties, - says David Blank (David Blank), the owner of The Diamond Doctor. - In the end, the consumer will benefit from the fact that he can buy a high quality product at a lower price. "
Cutters at the new plant will produce diamonds by diamond cutting and re-cut the old diamonds in a more contemporary style, the statement said. After cut diamonds will be held independently certified and sold at a retail store The Diamond Doctor in Dallas, as well as through the wholesale business David Blanca for sale of loose stones jewelry industry.
Southwest Diamond Cutters was founded in 1993 by its current owner Eshli Van Creveld (Ashley van Creveld). It "is considered one of the leading diamond cutting companies in the US," says Blank.
Blank opened his company in wholesale sales of diamonds in 2002, while the retail business for the sale of diamonds to private individuals at wholesale prices - in 2003.
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