Michael Hill FY26 Sales $654.7m, EBIT Guided Higher

Michael Hill International Limited (ASX:MHJ) provided a trading update for the 52-week period ended 28 June 2026, based on preliminary and unaudited numbers. Group sales were $654.7 million, compared with $641.6 million in FY25, growth of 2.0 per cent, or 3.9 per cent on a constant currency basis. Group same store sales were $639.8 million, up 3.0 per cent on last year and up 5.2 per cent in constant currency, with Australia including Bevilles up 4.8 per cent for the year, Canada up 7.0 per cent and New Zealand up 3.6 per cent. In the second half, same store sales in local currency rose 4.4 per cent in Australia, 7.6 per cent in Canada and 5.6 per cent in New Zealand.

FY26 Group comparable EBIT is anticipated to be in the range of $22.0 million to $24.0 million, up 44 per cent to 57 per cent on FY25's $15.3 million, which the company said was underpinned by strong sales performance, stable margins and disciplined cost management in an inflationary environment. During the year eight stores were closed (four in Australia, two in Canada and two in New Zealand) and two were opened (one in Australia and one in Canada), taking the network to 281 stores from 287 in FY25. Chief Executive Officer Jonathan Waecker said he was pleased with the FY26 performance and that the company had made good progress simplifying the Group and sharpening its focus on Michael Hill and Bevilles. Full year financial results are intended for release on Friday 28 August 2026, with an investor briefing scheduled for 8:00am Brisbane time on Monday 31 August 2026.