Australia's Michael Hill slips on weak earnings forecast

Michael Hill International

24/01/2025 01:01

** Shares of Michael Hill International  MHJ.AX  fall 1.9%
to A$0.53 in its third straight session of losses
    ** Stock fell as much as 4.6% to A$0.515, their lowest level
since Oct 23
    ** Jewellery retailer expects group comparable EBIT between
A$22.5 mln-A$24 mln ($14.13 mln-$15.07 mln) for 1H25 vs A$31.3
mln logged last year
    ** Co says prevailing macroeconomic pressures continued to
impact consumer sentiment and discretionary retail throughout
2024
    ** More than 72,000 shares change hands, 3.8 times the
30-day avg
    ** Michael Hill down 10.2% YTD, including current session's
moves

($1 = 1.5921 Australian dollars)

 (Reporting by Nikita Maria Jino in Bengaluru)
 ((Nikita.Jino@thomsonreuters.com))