Michael Hill faces significant earnings decline
Listed jeweller Michael Hill International (ASX:MHJ) is facing a significant decline in earnings for the year ending June, according to an update released late Thursday evening.
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Michael Hill jewelry faces turbulence
Listed jewelry chain Michael Hill has set itself up for a pounding when the ASX reopens on Monday after issuing a weak trading update on Friday.
Read MoreMichael Hill slashes outlets
New Zealand-based jeweler, Michael Hill, has closed half a dozen outlets and retrenched staff and managers in response to what it calls "challenging conditions," which have adversely impacted profit margins, leading to earnings reductions of over 40%.
Read MoreTrade Tidings: LOV, MHJ, ABY
Earnings reports from a few fashion and beauty sector stragglers yesterday: Adore, Michael Hill and Lovisa, with the latter delivering one of the season’s best results from the retail space.
Read MoreMHJ – Credit Suisse rates the stock as Outperform
Credit Suisse considers Michael Hill International has provided a strong trading update, with four weeks of critical Christmas trade remaining. Year-to-date same store sales grew 7.9%, largely driven by Australia, notes the broker.
Read MoreOnline Shine Helps Michael Hill Overcome Retail Lockdown
Solid online sales continue to help jewellery retailer Michael Hill to survive the continuing vicissitudes of the coronavirus pandemic here and offshore.
Read MoreMHJ – Macquarie rates the stock as Outperform
Sales were “reasonably strong” in the fourth quarter, Macquarie notes, as consumer demand after the depths of the lockdown exceeded expectations.
Read MoreMichael Hill Q3 Sales Dive Prior To Total Shutdown
In its third trading update so far this year, Michael Hill Jewellers has provided an early idea of the damage the coronavirus is having on Australian retailing in 2020, telling investors its comparable sales for the third quarter dropped by a massive 10.4%.
Read MoreVirus Damage: Michael Hill Closes, Woolies Postpones Drinks Demerger, Retail Food Drops Guidance
Jewelry chain, Michael Hill has become the first major Australian retailer to close its doors in light of the coronavirus pandemic, meaning the jobs of thousands of workers are at risk. Meanwhile, Woolworths has postponed its drinks demerger, Retail Food Group has dropped its guidance as has Shaver Shop.
Read MoreMHJ – Citi rates the stock as Buy
Buy rating maintained while the price target loses -1c to $0.80. Citi found the Q2 trading update serves as a signal that sales momentum is strong, supported by Black Friday and Christmas 2019.
Read MoreMHJ – Citi rates the stock as Buy
First-quarter trading has revealed the company’s strategies are gaining momentum, with Citi noting the business has stabilised. The broker expects Michael Hill will focus on improving Canadian sales productivity and expanded its product range.
Read MoreMichael Hill Shares Sink On Staff Underpayments Scandal
Shares in jewellery retailer Michael Hill fell more than 9% yesterday after reporting that it underpaid staff by up to $25 million over the past six years.
Read MoreMHJ – Credit Suisse rates the stock as Outperform
Michael Hill International has delivered a weaker trading update versus Credit Suisse expectations. Australia, among the company’s key markets, was the only one to report a sequential improvement in same-store sales trends for the nine months to March.
Read MoreRetail Jeweller Michael Hill Loses More Lustre
Shares in listed jeweller, Michael Hill International slumped 27.4% to 66 cents on Monday after investors caught up with a late trading update delivered late on Friday.
Read MoreUS Cleanup Takes Shine Off Michael Hill
As expected the clean up costs from a change of strategy (especially its US presence) took a toll on Michael Hill International’s full-year profit which slumped 86% in the year to June.
Read MoreMichael Hill Loses More Sparkle
NZ jeweller Michael Hill’s self inflicted ‘diet’ has seen staff at nine stores in the US lose their jobs after the group was forced to close the locations after failing to find a buyer.
Read MoreMichael Hill Eyes US Exit
Kiwi-based jewellers, Michael Hill is quitting the huge US market in the wake of months of declining sales. And it is also reviewing its 32 store strong Emma & Roe charm brand chain in Australia.
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