Michael Hill Australian sales grew 4.8% in year to June 2026 despite economic headwinds
Jeweller Michael Hill reported record revenue growth as resilient demand sustained same-store sales increases across its markets.
Michael Hill (ASX:MHJ) achieved record revenue growth, with Australian same-store sales climbing 4.8% from the year to June 2026. CEO Jonathan Waecker led operations during a period of challenging consumer confidence and rising interest rates in Australia. While household wealth feels diminished due to falling housing prices, demand for high-end jewellery remains strong. Consumers prioritize experiences and quality over strict budget constraints. This trend applies across both the brand's eponymous luxury line and its more affordable Brevilles retail arm. The company operates globally under these two distinct brands. In Canada, the fledgling operation showed stronger performance than Australia, posting 7% same-store sales growth. Waecker attributes this Canadian success to Michael Hill's identity as a New Zealand brand rather than an American one. The data indicates that niche luxury retailers can maintain sales momentum even when broader consumer sentiment suggests tightened wallets.
