Michael Hill's Sales Decline Looks Hard to Offset -- Market Talk

Dow Jones

Jan 24, 2025

0318 GMT - Michael Hill International will find it hard to offset its second-quarter decline in jewelry sales with cost cuts, Citi analyst James Wang warns. He acknowledges that the Australia-listed company has identified A$5 million in cost savings, but tells clients in a note that the scale of the sales decline makes things difficult. After what Wang says was a promising first fiscal quarter, sales across the first half fell 1% on a year earlier and missed the average analyst forecast by 4%. Michael Hill typically breaks even or makes a small loss in its fiscal second half, Wang adds. Citi has a neutral rating and A$0.57 target price on the stock, which is down 3.7% at A$0.52. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

January 23, 2025 22:19 ET (03:19 GMT)

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He acknowledges that the Australia-listed company has identified A$5 million in cost savings, but tells clients in a note that the scale of the sales decline makes things difficult. After what Wang says was a promising first fiscal quarter, sales across the first half fell 1% on a year earlier and missed the average analyst forecast by 4%. Michael Hill typically breaks even or makes a small loss in its fiscal second half, Wang adds. Citi has a neutral rating and A$0.57 target price on the stock, which is down 3.7% at A$0.52. 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He acknowledges that the Australia-listed company has identified A$5 million in cost savings, but tells clients in a note that the scale of the sales decline makes things difficult. After what Wang says was a promising first fiscal quarter, sales across the first half fell 1% on a year earlier and missed the average analyst forecast by 4%. Michael Hill typically breaks even or makes a small loss in its fiscal second half, Wang adds. Citi has a neutral rating and A$0.57 target price on the stock, which is down 3.7% at A$0.52. (stuart.condie@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  January 23, 2025 22:19 ET (03:19 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"MHJ.AU","symbol_name":"MICHAEL HILL INTERNATIONAL L","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2505006594","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2505006594","pubTimestamp":1737688740,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0318 GMT - Michael Hill International will find it hard to offset its second-quarter decline in jewelry sales with cost cuts, Citi analyst James Wang warns. He acknowledges that the Australia-listed company has identified A$5 million in cost savings, but tells clients in a note that the scale of the sales decline makes things difficult. After what Wang says was a promising first fiscal quarter, sales across the first half fell 1% on a year earlier and missed the average analyst forecast by 4%. Michael Hill typically breaks even or makes a small loss in its fiscal second half, Wang adds. Citi has a neutral rating and A$0.57 target price on the stock, which is down 3.7% at A$0.52. ","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"MHJ.AU":"MICHAEL HILL INTERNATIONAL L"},"translate_title":"迈克尔·希尔的销售额下降看起来很难抵消——市场传言","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"HIL":1,"MHJ.AU":0.9},"content_text":"0318 GMT - Michael Hill International will find it hard to offset its second-quarter decline in jewelry sales with cost cuts, Citi analyst James Wang warns. He acknowledges that the Australia-listed company has identified A$5 million in cost savings, but tells clients in a note that the scale of the sales decline makes things difficult. After what Wang says was a promising first fiscal quarter, sales across the first half fell 1% on a year earlier and missed the average analyst forecast by 4%. Michael Hill typically breaks even or makes a small loss in its fiscal second half, Wang adds. Citi has a neutral rating and A$0.57 target price on the stock, which is down 3.7% at A$0.52. (stuart.condie@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  January 23, 2025 22:19 ET (03:19 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}