Michael Hill H1 Sales and Profit Surge as Canada Drives Holiday Gains

Michael Hill International closed the six months ended December 28, 2025 with group revenue of AUD 371 million, a 3.0% year‑on‑year rise, and a jump in comparable EBIT to $31.0m, up 28.6% from $24.1m. Statutory net profit for the half reached $22.2m, a 32% increase from $16.9m, a result the company linked to stronger holiday trading and tighter execution across stores.

Regionally, Australia remained the largest contributor with revenue of AUD 209.1m, up 2.1%, and same‑store sales improving 4.8% across a network of 160 stores that includes 37 Bevilles locations. New Zealand posted revenue of NZD 62.0m, a 2.4% increase, with same‑store sales up 1.8% from 43 shops. Canada stood out: revenue rose to CAD 96.3m while same‑store sales advanced roughly 6% for the half and the Canadian business expanded gross margin by 70 basis points to 61.5%, a performance described as “record” for the market and reinforced by a new Yorkdale flagship opening in Toronto.

Momentum extended into the first eight weeks of FY26 H2. Group sales were up 4.5% year‑on‑year and group same‑store sales rose 6% in that period. Market‑level strength accelerated: Australia and New Zealand each registered 7% same‑store growth, while Canada surged 13% in the first eight weeks. Seasonal events such as Valentine’s Day and Lunar New Year were cited as contributors to the early H2 uplift.

Merchandising and new product ranges were central to the half’s story. The company highlighted an expanded range of curated holiday gift sets that “addressed diverse customer needs during the peak season,” while new collections and in‑store concepts — Vermeil, Lume LAB., the Earring Bar and a broadened Pendant Bar — were credited with driving customer interest. In the company’s words: “During the first half of FY 2026, our product initiatives played a meaningful role in supporting trading performance... the introduction of new collections... drove customer interest and newness across the brand.”

Leadership framed the turnaround as operational and customer‑centric. Michael Hill’s chief executive, named in reports variously as Jonathan Weacker and Jonathan Waecker, said, “While we remain mindful of current economic conditions, the first half demonstrates that consistent execution of retail fundamentals is translating into improved performance for the group.” Another report quoted him: “The feedback was consistent, that when we simplify how we operate, stay close to the customer and focus on retail fundamentals, performance improves.”

With comparable EBIT and net profit both trending higher and Canada delivering stronger sales and margin expansion, the retailer enters FY26 H2 riding clear holiday momentum and a product‑led merchandising plan that appears to be converting seasonal uplift into sustained trading gains.