MajorsDec 19, 2025
MadaLuxe Group Acquires Ippolita The luxury goods company said founder Ippolita Rostagno will remain at the brand’s helm.
FinancialsOct 16, 2018
Michael Hill Same-Store Sales Decline in Q1
The retailer struggled in its attempt to rely less on discounting.
Brisbane, Australia—Same-store sales and group revenue were down for Michael Hill in the jeweler’s first quarter as it struggles to move away from a reliance on discounting.
The retailer reported Friday that same-store sales dropped 11 percent in the three-month period ended Sept. 30, while group revenue for continuing operations declined 9 percent.
Michael Hill said the reductions were “partly attributable to underestimating marketing and promotional activities required to support the group’s strategic shift away from a reliance on discount-based pricing.”
Gross margin rose to 65 percent for the quarter, compared with 63 percent in the prior-year period.
E-commerce sales were up 85 percent year-over-year in the three-month period and now represent 3 percent of total sales for Michael Hill.
The retailer opened three Michael Hill stores during the period while, at the same time, closing three underperforming locations. As of the end of September, the retailer had 306 Michael Hill stores.
Four Emma & Roe stores shut down in the first quarter, as the retailer continues the previously announced wind-down of its charm store chain. The company ended the period with two Emma & Roe stores and the brand’s website still operating.
CEO Phil Taylor said the company would remain focused its multi-pronged turnaround plan to reposition it from a traditional retailer to an omnichannel brand with more unique, branded product. Taylor is stepping down as CEO next month due to health reasons and will be replaced by retail and fashion veteran Daniel Bracken.
Michael Hill operates stores in Australia, New Zealand and Canada, and also had a presence in the United States until earlier this year when it closed its nine stores in Illinois, Minnesota and New York.
The retailer came to the United States in 2008, originally buying 17 stores in the Midwest from Whitehall Jewelers after it went bankrupt, but it never succeeded in turning its U.S. operation into a profitable venture.
When it reported its fiscal full-year results in August, Michael Hill said same-store sales were flat and profits had tumbled in part due to its exit from the U.S. market.
More on Financials
The Latest
MajorsDec 19, 2025
LVMH Names New Bulgari CEOLaura Burdese, who joined the Italian luxury brand in 2022, will take on the role in July.
EditorsDec 19, 2025
2025 Jewelry Superlatives: A Yearbook-Style Year in Review The National Jeweler editors revisit the most noteworthy industry happenings and design trends from 2025.
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
AuctionsDec 19, 2025
Jean Schlumberger’s ‘African Cat’ Is Purr-Fection Need a gift for the cat lover who has everything? Look no further than our latest Piece of the Week.
Weekly QuizDec 18, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
AuctionsDec 18, 2025
Audemars Piguet Reclaims Historic Pocket Watch at AuctionIt purchased the “Grosse Pièce,” an ultra-complicated Audemars Piguet pocket watch from the ‘20s, for a record-breaking price at Sotheby’s.
Lab-GrownDec 18, 2025
Kira Jewels Debuts Custom Lab-Grown Diamond Jewelry ServiceThe lab-grown diamond grower now offers custom engagement and fashion jewelry through its Kira Custom Lab Jewelry service.
Brought to you by
Roseco Releases New Full-Line CatalogRoseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.
EditorsDec 18, 2025
Terry Chandler Looks Back on 40 Years of Opportunity, Change, and FriendsChandler got his start at Michelson Jewelers and has served as DCA president and CEO since 2001. He will retire at the end of the month.
WatchesDec 18, 2025
Bob’s Watches to Open Store in New York’s JFK AirportThe boutique is slated to open this week inside Terminal 8, offering pre-owned Rolex watches and more to international travelers.
Supplier BulletinDec 18, 2025
Cell Jammers Are Targeting Your Business. Here's How to Beat ThemSponsored by Digital Monitoring Products
CrimeDec 17, 2025
Man Pleads Not Guilty to Swallowing Fabergé PendantThe special-edition egg pendant ingested in a New Zealand jewelry store was recovered after a six-day wait.
EditorsDec 17, 2025
2025 Jewelry Rewind: The Best Piece of the Week PicksAssociate Editor Natalie Francisco plays favorites with Piece of the Week, selecting a standout piece of jewelry from each month of 2025.
CollectionsDec 17, 2025
Lucy Hale Stars in Jacquie Aiche’s Holiday CampaignThe “Love and Desire” campaign is inspired by the magic that follows when one’s heart leads the way, said the brand.
GradingDec 17, 2025
SSEF Announces 2025 Scholarship WinnersTwo awardees will receive free tuition for an educational course at the Swiss lab, with flights and lodging included.
MajorsDec 16, 2025
Pandora’s New CEO Will Step Up EarlyBerta de Pablos-Barbier will replace Alexander Lacik at the start of January, two months earlier than expected.
AuctionsDec 16, 2025
Suzanne Belperron, JAR Shine in Sotheby’s First Auctions at New HQSotheby’s held its first two jewelry sales at the Breuer building last week, and they totaled nearly $44 million.
Events & AwardsDec 16, 2025
TJS Now Accepting Scholarship Applications for 2026Winners will receive free registration and lodging for its fourth annual event in Detroit.
ColumnistsDec 16, 2025
Beyond Unboxing: Creative Reveals to Drive Reach and EngagementHere are six ideas for making more engaging content for Instagram Reels and TikTok, courtesy of Duvall O’Steen and Jen Cullen Williams.
Events & AwardsDec 16, 2025
Diamonds Do Good Names 2026 Award RecipientsThe honorees include a notable jewelry brand, an industry veteran, and an independent retailer.
CrimeDec 15, 2025
Men Receive Life Sentences in Home Invasion Murder of Jeweler Carlos Jose Hernandez and Joshua Zuazo were sentenced to life without the possibility of parole in the 2024 murder of Hussein “Sam” Murray.
Policies & IssuesDec 15, 2025
Sara Yood Named Co-Chair of RJC Standards CommitteeYood will serve alongside Eduard Stefanescu, the sustainability manager for C.Hafner, a precious metals refiner in Germany.
IndependentsDec 15, 2025
M.S. Rau to Open Store in AspenThe New Orleans jeweler is also hosting pop-up jewelry boutiques in New York City and Dallas.
AuctionsDec 12, 2025
13.54-Carat Paraíba Tourmaline Sets Records at Christie’sSet in a Tiffany & Co. necklace, it sold for $4.2 million, the highest price and price per carat paid for a Paraíba tourmaline at auction.
MajorsDec 12, 2025
David Webb Reveals Ice-Cold Holiday Window DisplayThe jeweler’s “Deep Freeze” display showcases its iconic jewelry designs frozen in a vintage icebox.
CollectionsDec 12, 2025
Piece of the Week: Oscar Heyman’s Sphene RingTake luxury gifting to new heights this holiday season with the jeweler’s showstopping 12-carat sphene ring.
Events & AwardsDec 12, 2025
IGI Jewelry Design Contest Now Accepting SubmissionsThis year's theme is “Unveiling the Depths of the Ocean.”
