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Michael Hill International Ltd. ( (AU:MHJ) ) has issued an announcement.
Michael Hill International reported first-half FY26 revenue of $371.0 million, up 3.0%, with comparable EBIT rising 28.6% to $31.0 million and statutory net profit up 32.0% to $22.3 million. Same-store sales grew 3.8% in local currency, led by record performance in Canada and strong gains in Australia, while New Zealand returned to growth, underscoring broad-based demand across its network.
Gross margin held broadly flat at 61.2% despite elevated gold and silver costs, supported by tighter product focus, refreshed collections such as Vermeil and Lume LAB, and disciplined pricing and promotions. The group cut inventory by $11.3 million to $201.9 million, moved to a $20.7 million net cash position, and opened or refurbished key flagship stores, while choosing not to pay an interim dividend as it prioritises balance-sheet strength ahead of a planned resumption of payouts at year-end.
Operationally, Michael Hill advanced its customer experience agenda via a new Auckland distribution centre to improve fulfilment speed and service levels across channels. Early trading in the second half has been robust, with group same-store sales up 6.0% over the first eight weeks and growth across all three markets, reinforcing management’s view that recent strategic refocusing is creating a more sustainable platform for growth and supporting ongoing market share gains, particularly in Canada.
The most recent analyst rating on (AU:MHJ) stock is a Hold with a A$0.42 price target. To see the full list of analyst forecasts on Michael Hill International Ltd. stock, see the AU:MHJ Stock Forecast page.
More about Michael Hill International Ltd.
Michael Hill International Ltd. is a specialty jewellery retailer listed on the ASX and NZX, operating 285 stores across Australia, Canada and New Zealand, including the Bevilles brand in Australia. The company focuses on gold, silver and diamond jewellery, supported by branded collections and curated gifting ranges aimed at value-conscious customers in the mid-market segment.
Average Trading Volume: 130,654
Technical Sentiment Signal: Sell
Current Market Cap: A$159.7M
See more data about MHJ stock on TipRanks’ Stock Analysis page.