Australia's Michael Hill hits over 3-year high on strong Q1 sales

Michael Hill International

13/10/2021 03:13

** Shares of jewellery retailer  MHJ.AX  gain as much as
5.6% to A$0.94, their highest since Oct 1, 2018
    ** Co says Q1 same-store sales rose 15.5% y/y to A$102.2
mln($75.05 mln)  urn:newsml:reuters.com:*:nFWN2R810H
    ** Q1 digital sales jumped 58.2% to A$184.6 mln
    ** Higher margins, cost control, digital growth and strong
same-store sales have lessened the negative impact from COVID-19
lockdowns - Michael Hill 
    ** MHJ shares set for best day since Oct 4
    ** Stock up 34.3% YTD, as of last close

($1 = 1.3618 Australian dollars)

 (Reporting by Aditya Munjuluru in Bengaluru)
 ((aditya.srivastsav@thomsonreuters.com))