10 Jul 2013

Sales lack lustre for jeweller

7:26 am on 10 July 2013

Sales at the jewellery retailer Michael Hill International faltered in the June quarter.

The company says sales in its key Australian market were flat and sales in its other three markets, New Zealand, Canada and the United States, fell.

Overall, sales through stores open 12 months or more fell 5.8% in the three months ending in June.

However, for the year to the end of June, sales were up 6.8%. The company says it was pleasing that these sales were achieved at a higher profit margin.

Chief executive Mike Parsell says the trading environment has been tough.

Mr Parsell says if the market stays tight, the company will respond through refining its promotions and its business formula.

He says the company has a range of options to maintain momentum.