After three years of record results, 2023 finally broke jewellery retailer Michael Hill (ASX: MHJ). Like many Aussies, the Company faced tough retail conditions prompting cost-cutting measures. The fine jewellery brand encountered formidable headwinds due to a bitter cocktail of factors, including the macroeconomic environment impacting consumer sentiment, tough trading conditions, inflated input costs, and
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It seems fewer people are putting a Michael Hill (ASX: MHJ) ring on it, as the retail company witnesses a decline in its sales and earning. The persisting inflationary environment has left people putting huge life events, like engagements, on the backburner till the wallet can weather this storm. Discretionary spending has declined, and balance
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As revealed by more and more media publications, the recurring trend in the diamond revolution among Gen-Zs and Millennials revolves on their reluctance to drop big money on diamond jewelleries, considering high costs of living and other financial pressures. With this, jewellery companies like Michael Hill International (ASX: MHJ) had to do its best to
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The rapidly changing retail landscape continues to evolve through COVID-19, with consumers now having little qualms buying goods online that traditionally had to be bought in-store. Jewellery in particular has met this trend as evidenced by retail jeweler Michael Hill (ASX: MHJ) which has reported a 54.5% increase in digital sales and the launch of
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Diamonds may be a girl’s best friend, but possibly not for the small number of Michael Hill International (ASX, NZX: MHJ) employees told that their workplaces will remain permanently closed, even after COVID-19 subsides. It signals a likely trend in the global retail market where retailers will be undergoing gradual re-opening of stores but will
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