Michael Hill Records Record Revenue as Turnaround Gains Momentum

Michael Hill International's turnaround efforts have gained momentum in fiscal year 2026, as evidenced by record group revenue of AUD 655.7 million and a 57% increase in comparable EBIT to AUD 24 million.

The company reported same-store sales growth across all markets, including Canada, Australia, and New Zealand, with a notable 5.2% rise in constant currency.

Michael Hill also reduced its net debt significantly, from AUD 41.9 million to AUD 5.5 million, and restored its dividend. The company's shares rose 2.04% to $0.35, near the middle of their 52-week range.