Michael Hill maps simplified growth strategy as sales momentum returns

Michael Hill International Ltd. ( (AU:MHJ) ) has provided an update.

Michael Hill International used its 2026 Investor Day in Brisbane to outline an operational reset aimed at simplifying its brand portfolio, sharpening customer focus and using data discipline to drive performance. Management reported that this framework is already showing results, with group sales and same-store sales returning to growth in the third quarter of FY26 while gross margins remain broadly steady.

The company is targeting a 10% EBIT margin by pulling four levers: improved store productivity, diversified revenue growth, better gross profit and operating leverage. A key element is rationalising from five brands to two in Australia, resetting the Bevilles value chain and testing bespoke engagement-ring experiences across the Michael Hill network, steps that could strengthen its competitive position and support a return to dividends at the FY26 full year.

More about Michael Hill International Ltd.

Michael Hill International Ltd. is a specialty jewellery retailer founded in 1979 in Whangārei, New Zealand, and now operates 282 stores across Australia, New Zealand and Canada. The Brisbane-headquartered group, which includes wholesale and manufacturing operations, focuses on mid-market jewellery under the Michael Hill brand and value-led offerings through its Bevilles chain.

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