Company Overview and News

A2 to join MSCI main stock index as Mercury drops off

A review of global stock indices by MSCI will, as expected, add A2 Milk to the international investment advisor's main global index, with Mercury New Zealand to be removed.

Fletcher gains as stock stays in MSCI main index

A review of global stock indices by MSCI has seen Fletcher Building shares gain after news the stock will remain on the international investment adviser's main global index, with A2 Milk rising on its planned entry and Mercury New Zealand dipping due to its planned removal.

Exit from US jewellery business to cost Michael Hill $6m

Michael Hill International said the exit from its US business is expected to cost US$4.5 million (NZ$6.1 million) for lease terminations and employee severance costs after it was unable to find a buyer for the jewellery stores.

Trump’s tariffs a ‘black day’

U.S. President Donald Trump warned the European Union on Tuesday it would get hit with a "big tax" for not treating the United States well when it comes to trade.

Michael Hill to exit 24 Emma & Roe branded stores

Michael Hill International plans to exit 24 of the stores in its unsuccessful Emma & Roe chain at a cost of A$5.8 million ($6.2m) to A$7.9m, repositioning the remaining six stores in the 'demi-fine' jewellery segment.

Earnings season keeps positive trend intact as mining services shines

The profit season underway provides further evidence earnings growth is widening to capture more of the market, supported by synchronised global growth and confidence that consumers are coping with high levels of household debt.

Michael Hill International Ltd. ADR 2018 Q2 - Results - Earnings Call Slides

2018-02-23 seekingalpha
The following slide deck was published by Michael Hill International Ltd. ADR in conjunction with their 2018 Q2 earnings call.

Michael Hill's first-half profit plunge is a one-off blow, research analyst says

Michael Hill International's 66 per cent profit plunge in its first-half earnings is a one-off blow on the back of plans to exit the US, says a research analyst.

Michael Hill first-half profit tumbles 66% on US store closures

Michael Hill International posted a 66 per cent drop in first-half profit, mainly reflecting A$19.8 million ($21.1m) of provisions to reposition its Emma & Roe chain and to recognise costs of exiting the US market.

NZ shares dip; Fletcher in trading halt

New Zealand shares dipped as heightened global volatility continued to subside, while insurer CBL Corp was suspended pending regulatory investigations and Fletcher Building signalled another profit warning.

Michael Hill warns of $21 million hit to first-half earnings on US exit

Michael Hill International expects first-half earnings will more than halve with A$20 million ($21.7m) coming from the jewellery chain's exit from the US and scaling back its Emma & Roe branded store footprint.

Michael Hill explains struggle to build brand in US despite Super Bowl presence

Michael Hill International didn't have the brand awareness or the budget to penetrate the US market, forcing its withdrawal, the retailer's boss says.

NZ shares mixed; A2 and Mercury gain

New Zealand shares were mixed as trading picked up, with A2 Milk Co and Mercury Energy gaining while Metro Performance Glass fell.

Michael Hill gives up on decade-long US experiment

Michael Hill International, the jewellery chain founded by its namesake, will wind up its US operations after a decade-long investment failed to build a profitable business, and is overhauling its Emma & Roe jewellery line.

NZ shares down, F&P Health and Pushpay drop in light trading

New Zealand shares dipped, led lower by Fisher & Paykel Healthcare and Pushpay Holdings, albeit in light volume as market participants return slowly.

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