Michael Hill International Ltd. (AU:MHJ) has released an update.
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Michael Hill International Ltd. reports a 4.7% increase in Group sales over 45 weeks, though core brand sales remain down from the previous year. Challenging economic conditions have led to unchanged sales momentum and ongoing margin pressures, with the company experiencing a $10m EBIT loss for the third quarter. The management is focused on sales stimulation and cost management, while the CEO anticipates future recovery as interest rates stabilize.
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