Same store sales far from sparkling at Michael Hill

International jeweller Michael Hill posted a 5.3 per cent fall in quarterly same store sales, but gross margins improved as the retailer cut back on discounting.

Same store sales across its New Zealand, Australian and Canadian outlets totalled $64 million for the three months ended September, while total sales of $71 million were up 0.9 per cent on a year earlier. The largest drop was Canadian same store sales, down 11.2 per cent.

- NZPA