International jewellery retailer Michael Hill has posted a $32.6 million (NPAT) boost in 2017, growing 66.8% from $19.6 million the previous year.
The company identified a need to redevelop the Emma and Roe brand, following same store sales declining 2.1%.
However, Michael Hill's overall revenue surged by 5.8%, bringing total revenue to $582 million for the year.
The US continued to be a challenge for the brand, with leadership shuffles and marketing redirection leading to an 8.5% fall in revenue from the same stores.
Michael Hill still believes the US can be a profitable market, should it be able to develop a viable business model.
Online sales proved to be a strong point for the brand as revenue growth of 68% saw online sales exceed 1% of Michael Hill's overall revenue.
Website visits also grew from 10.9 million in 2016 to 13.9 million in 2017.
Global branded product sales reached 14.2% of total sales compared to 13% the prior year. The brand stated the long-term goal is to move increasingly toward proprietary branded collections.
Overall, 13 Michael Hill stores were opened and seven underperforming stores were closed internationally. 13 Emma and Roe stores were also opened.