Jewelry company Michael Hill International reported that according to preliminary data, its revenue for the first fiscal quarter ended September 30, rose 8.7% on a year-on-year basis and reached $ 93.3 million (AUD 98.48 million), Rapaport reports. . Sales in comparable stores for the period increased by 3.8%.
By region and by local currency, Michael Hill sales in Australia showed an increase of 5.5% to AUD 60.18 million (with sales growth in comparable stores by 1.1%), sales in New Zealand fell by 6.2% to NZD 21.23 million (sales in comparable stores decreased by 6.1%). Revenue from sales at Canadian outlets jumped 25.4% to CAD 12.41 million (with sales increasing in comparable stores by 5.9%). Sales in the US fell 4.2% on a year-on-year basis to $ 1.97 million, due to the closure of one outlet. Meanwhile, sales in comparable stores in the US increased by 7.2%.