Michael Hill International posts $654.7M group sales in FY26

• Group sales reached $654.7 million for the 52-week period ended June 28, marking a 2% increase on the prior year.
• The company anticipates its comparable EBIT to land between $22 million and $24 million.
• ·Management cited disciplined cost management and strong sales performance as key drivers for the positive outlook.

Michael Hill International (ASX:MHJ) reported group sales of $654.7 million for the 52-week period ended June 28, reflecting a 2% rise from the previous year's $641.6 million.

This performance followed the prior year when the retailer generated $641.6 million in group sales.

"I'm pleased with our FY26 performance, as it was particularly encouraging to see same store sales growth across all markets, significantly accelerating in Canada and New Zealand in the second half," said Michael Hill International CEO Jonathan Waecker.

The company stated that group comparable EBIT for FY26 is anticipated to be in the range of $22 million to $24 million, up 44% to 57% on the prior year's $15.3 million.

Following the announcement, the Michael Hill International share price was unchanged at $0.34.

The jewellery retailer managed a store network of 281 locations at the close of the period, down from 287 stores in the previous year after opening two new shops and closing eight.

The business continues to operate across Australia, Canada, and New Zealand while focusing on simplifying operations around its core brands.