Michael Hill Jeweller will conduct an analysis to make sure the worse-than-expected trading the firm experienced over the Christmas period was no fault of its own, says chief financial officer Phil Taylor.
The Brisbane-based, NZX-listed jewellery retailer yesterday reported total sales of $312.8 million for the six months to December 31 last year, an 8.8 per cent increase on the same period in 2011, but said business over the December quarter, including the crucial festive season period, fell short of expectations.
Shares in Michael Hill fell 5c to close at $1.20 last night.
"We thought we were well set-up for Christmas - we had a good marketing campaign and were well stocked with inventory and well staffed ... The foot traffic probably wasn't as strong as we had expected across the board," said Taylor.