BUZZ-Australia's Michael Hill slips on weak earnings forecast

Reuters
01-24
BUZZ-Australia's Michael Hill slips on weak earnings forecast

** Shares of Michael Hill International MHJ.AX fall 1.9% to A$0.53 in its third straight session of losses

** Stock fell as much as 4.6% to A$0.515, their lowest level since Oct 23

** Jewellery retailer expects group comparable EBIT between A$22.5 mln-A$24 mln ($14.13 mln-$15.07 mln) for 1H25 vs A$31.3 mln logged last year

** Co says prevailing macroeconomic pressures continued to impact consumer sentiment and discretionary retail throughout 2024

** More than 72,000 shares change hands, 3.8 times the 30-day avg

** Michael Hill down 10.2% YTD, including current session's moves

($1 = 1.5921 Australian dollars)

(Reporting by Nikita Maria Jino in Bengaluru)

((Nikita.Jino@thomsonreuters.com))

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