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Michael Hill reveals cost of US exit

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April 12, 2018

Michael Hill plans to close its nine loss-making US stores, which will cost it $US4.5 million.

Jewellery chain Michael Hill International says sales at its Emma & Roe stores have fallen following last month's announcement it will close most of the charm brand outlets.

Emma & Roe's same stores sales for the nine months to March 31 dropped 5.8 per cent to $9.4 million from the same period a year earlier.

The ASX-listed jeweller says its announcement in March that it will close 80 per cent of the struggling Emma & Roe stores contributed to the weaker sales, while same store sales at its Michael Hill-branded stores in Australia also fell 0.3 per cent.

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