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Jewellery retailer expects full year EBIT to be in line or above analyst expectations. Michael Hill International stores experienced 10,447 lost trading days over the 52-week period to June 27, but still managed to increase sales by 13.5% on an “all store” basis and
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Sharemarket shrugs off higher inflation with 'very muted' reaction stuff.co.nz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from stuff.co.nz Daily Mail and Mail on Sunday newspapers.
-Snap lockdowns to undermine discretionary retail earnings/share prices -Proposed EU-based consumer credit regulations may affect growth for Afterpay/Zip Co -Major rebound in buybacks, special dividends, and return to normal dividend payout ratios on the cards By Mark Story Discretionary retail: Lockdowns tarnish second half earnings Despite the accelerated vaccine roll-out nationally, Jarden sees the real risk of Australia remaining closed for longer, which will likely delay the reopening trade. To reflect snap lockdowns in NSW and Victoria, partial lockdowns in QLD, WA and the NT, plus a growing cost of doing business pressures (CODB), Jarden has cut FY21 earning per share (EPS) forecasts by an average -5% across a handful of discretionary retailers. ....
New chairman for Michael Hill International, Emma Hill stands aside Posted June 28, 2021 | By Jeweller Staff The chair of Michael Hill International (MHI) s board of directors, Emma Hill, is set to step down today handing the reins to Rob Fyfe, former CEO of Air New Zealand. Hill will remain as non-executive director, along with her father Sir Michael Hill. In addition, Daniel Bracken, the company s CEO, is to join the MHI board as managing director effective 28 June 2021. The time is right for this transition. The company has never been in a healthier position Emma Hill, outgoing chair, Michael Hill International ....
Court rules against diamond company s legal claim Posted June 28, 2021 | By Arabella Roden ⢠Editor A New York court has ruled in favour of lab-created diamond supplier Fenix Diamonds and manufacturer Nouveau Diamonds, rejecting a competitor s claim that the companies infringed patented diamond creation techniques. Fenix and Nouveau were part of a larger suit filed last year by WD Lab Grown Diamonds and the Carnegie Institution of Washington, which alleged six competitors had infringed two of Carnegie’s patents. Judge Jed S. Rakoff. upheld Fenix’s motion for a summary judgment, noting readily apparent differences between Nouveau’s diamond manufacturing and the first Carnegie patent ....