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Michael Hill has grown same store sales over the Christmas trading quarter.

The result followed a mix trading period for retailers, as the national bushfire crisis and early discounting hit sales.

Same stores growth in AUD was up 4.0% in the quarter over the same period last year and up 1.57% in local currency.

New Zealand continues to be the brand's most productive trading zone.

While same store sales grew 1.6 per cent to $103.5 million over the quarter in Australia, all store sales fell 0.9 per cent due to a reduced store portfolio of eight closures.

In the same period, New Zealand saw same store sales grow 5 per cent to NZ$42.8 million, and all store sales up 5.4 per cent.

CEO Daniel Bracken said retail trading periods had changed as a result of Black Friday, pulling consumer spending from December to November.

“As we anticipated, the Christmas trading pattern changed significantly this year, with a pull forward of sales into November.

“The Australian retail environment was particularly difficult given prevailing low consumer confidence, the competitive environment in our industry segment, together with foreign exchange and gold price headwinds.

“Pressure on gross margin continued in all markets, with deep-discounting from many competitors.

“The Australian retail environment was particularly difficult given prevailing low consumer confidence, the competitive environment in our industry segment, together with foreign exchange and gold price headwinds.”

eCcommerce offer saw significant growth during the second quarter, up 47.1% on the same period last year.

 

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