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Latest Articles
Michael Hill removes senior management roles, cuts costs following poor 2023 performance
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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Reduced consumer confidence chips Michael Hill sales, some stores shutting down
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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Michael Hill to acquire Bevilles for $45m to tap into mid-market jewellery
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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Michael Hill bucks retail trend as interest rates appear to have no impact on jewellery spending
Despite concerns about the rising interest rates and cost of living, that somehow hasn’t stopped Australians buying jewellery as Michael Hill International (ASX: MHJ) has bucked the retail sector trend with rising revenue and stronger margins. The June quarter was expected to be the one hardest hit for retailers with consumer confidence at its lowest
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Diamonds are a pandemic’s best friend as Michael Hill sales sparkle
Despite the enduring pandemic, lockdowns, restrictions and all the other crap that COVID has rained down upon us (I’m a VERY annoyed Melbournian this morning), retail has, for the most part, surprisingly stayed afloat, even thriving in some areas. One of those areas is jewelry. Yep, diamonds remain a girl’s best friend, even when in
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Digital explosion leads Michael Hill to launch purely digital Medley Jewellery
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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