Michael Hill International has reported a 3.1% year-on-year increase in revenue for the first 26 weeks of fiscal year 2026, reaching AUD 370.3 million for the period ending 28 December 2025.
The update, shared in a trading statement, outlines performance across its key markets of Australia, Canada, and New Zealand under the company’s new leadership.
Sales Performance by Market
Same-store sales rose across all regions, with Canada recording the highest growth at 6%, followed by Australia at 4.8% and New Zealand at 1.8%. The improvement in like-for-like sales indicates a continued consumer appetite across multiple markets during the peak trading season.
The company attributed much of the sales uplift to performance during the final 10 weeks of the half-year, including the key Christmas period. While detailed sales data by category was not disclosed, the company highlighted a focus on customer demand, promotional activity, and tighter planning.
Store Network Developments
During the half-year, Michael Hill made minor adjustments to its store network. Three stores were closed, and one opened, bringing the total to 285 stores at the end of the period. Additionally, three flagship stores were opened—two in Australia and one in Canada—aligned with the group’s ongoing strategy to expand brand presence in core markets.
Leadership Commentary
Commenting on the results, CEO Daniel Bracken and Chief Brand and Customer Officer Jonathan Waecker stated:
“Under new leadership, the group delivered profitable quarter-on-quarter growth, driven by significant performance improvement in the final 10 weeks of the first half. During the critical Christmas trading period, a strong focus on driving customer demand, combined with more disciplined product planning, store operations, and targeted promotional activity, delivered profitable net sales growth while maintaining margin…resulting in the group returning to a positive net cash position at the half.”
Implications for the Jewellery Sector
The results provide an early indication of consumer spending trends in the mid-tier jewellery segment heading into 2026. While inflationary pressures and shifting discretionary spend continue to influence retail, Michael Hill’s performance suggests selective resilience in key categories and markets. The reference to improved cash position may also signal stronger internal cost management and inventory planning during high-demand periods.
Further details on profit margins, inventory levels,s and strategic outlook are expected when Michael Hill releases its full half-year results on 27 February. Jewellers will be watching closely for indications on pricing strategy, customer behaviour, and operational priorities in the second half of the fiscal year.
