Michael Hill International released preliminary data on revenue growth of 10.5% year-on-year to $ 350 million (A $ 372.1 million) for the 9 months to March 31, 2014, Rapaport reports. Sales in comparable stores showed an increase of 5.4%.
When calculating in local currency, Michael Hill's income in Australia grew by 5.4% to $ 220 million (A $ 233.9 million), while sales in comparable stores increased by 1.4%. In Canada, the company's revenues jumped 30.6% to $ 48 million (52.5 million Canadian dollars), while sales in comparable stores increased by 9.4%. Sales in New Zealand declined 2.6% year-on-year to $ 73 million (NZD 84.4 million), while sales in comparable stores declined 2.6%. Revenue from sales in the US fell by 7% to $ 7.2 million, while sales in comparable stores increased by 2.8%.