Why the Michael Hill (ASX:MHJ) share price is on watch today

Published

4 years ago

January 15, 2021

The Michael Hill International Limited (ASX: MHJ) share price is in focus today after a trading update from the jewellery group.

Why is the Michael Hill share price on watch?

Michael Hill provided an update on its second quarter trading performance for the period ended 27 December 2020.

The Aussie jeweller expects to see group earnings before interest and tax (EBIT) growth of 30–40% for the first half of the year (1H 2021).

EBIT is forecast to be $56 million to $60 million against comparable EBIT of $41 million to $45 million in 1H 2020.

The group experienced strong same store sales growth across all markets and channels. That saw same store sales climb 6.3% for the half.

Digital sales were up 102% for the half with increased…

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