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Michael Hill Drives Strong Digital Growth in 2020
Aussie jeweller, Michael Hill, is reporting strong digital growth in Australia in its second-quarter business update.
In a report released on Friday, Michael Hill International Limited shared its sales growth in its physical and digital store locations.
“Following a strong first five months, it was particularly pleasing to see all markets deliver positive same-store sales growth for the all-important Christmas trading period,” explained Daniel Bracken, the CEO of Michael Hill.
“I am delighted that our strong trading performance across the half, coupled with our unwavering focus on costs, has in turn delivered material EBIT growth for the Group, in spite of challenging trading conditions worldwide.”
Michael Hill reported strong growth in same-store sales in all markets and channels, with sale up 6.3 percent for the half, and up 5.6 percent for the quarter compared to the previous year. For Australia, sales were particularly robust.
Online sales continued steady growth – for the second half, online sales increased by 102 percent, with digital initiatives delivering increased sales and margins across all markets. Digital sales now represent 5.8 percent of total sales for the retailer.
Despite Victorian stores shutting for the Stage Four restrictions, 28 stores re-opened by the end of October and continued to trade for the remaining calendar year.
“All areas of the business have contributed to this outstanding performance, as the rhythm of the businesses and our strategic initiatives operated in unison,” Mr Bracken said. “These results reaffirm our continued focus on a balance of both margin and sales growth, underpinned by a number of our strategic initiatives – brand, digital transformation, loyalty, retail fundamentals, and product mix.”