Wellington, Jan 8 NZPA - Jewellery retailer Michael Hill International has reported a 4.4 percent lift in same store sales to $221.2 million for the half year to the end of December.
Chairman Michael Hill said today that improved trading conditions during the key Christmas trading period had helped lift the same store figures which had been flat at the end of the first quarter.
All countries had improved same store trading performance from the first quarter, Mr Hill said.
In North America, where retail conditions remained difficult, some encouraging trends were seen emerging in the second quarter.
In Australia same store sales for the six months lifted 6.2 percent to $153.3m, although in local currency terms were up 3.6 percent to $A124.4m.
In New Zealand same store sales were up 5.4 percent to $51.7m, while in Canada they fell 12.6 percent to $16.2m, or in Canadian dollars were down 4.9 percent to $C12.5m.
All store sales were up 8.8 percent in Australia to $163.4m, or up 6 percent in the local currency to $A132.6m. In this country the rise was 5.5 percent to $52.3m, in Canada all store sales were up 7 percent to $21.1m, or in Canadian dollars up 16.6 percent to $C16.3m.
In the United States all store sales lifted 7 percent to $7.5m, or in US dollar terms were up 30.9 percent to $US5.4m.
Michael Hill shares closed at 66c yesterday, having ranged between 77c and 45c in the past year.
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