Despite the positive result, Michael Hill remains cautious of ongoing trading disruption. Operating revenue in the 26-week period fell almost 3 per cent to A$319m compared with A$329m in FY19. Group digital sales increased by 102 per cent to $18.5m in the six-month period, now representing almost 6 per cent of total sales, while same-store sales increased 6.3 per cent to $312m compared with $293.6m a year earlier. Company same-store sales in New Zealand increased by 2.8 per cent to A$68.4m in the period, while same-store sales increased by 12 per cent to A$174m in Australia and 3.6 per cent to A$70.3m in Canada. "With two new executives joining the Michael Hill leadership team, the company is well placed to continue the transformation and drive the growth agenda."

Source: New Zealand Herald February 23, 2021 21:50 UTC