May 14, 2020 / 8:46 PM / 13 days ago

BRIEF-Michael Hill International To Reopen Nearly 100 Australian & 25 New Zealand Stores

May 15 (Reuters) - Michael Hill International Ltd:

* PLANS UNDERWAY TO COMMENCE OPENING PROGRESSIVE TRANCHES OF CANADIAN STORES FROM LATE MAY

* WILL NOT REOPEN SOME UNDERPERFORMING STORES (TO DATE, 5 IN AUSTRALIA, 3 IN NEW ZEALAND & 1 IN CANADA)

* CEO DANIEL BRACKEN RECENTLY UNDERWENT SURGERY & WILL NEED A REDUCED WORK LOAD FOR NEXT FEW WEEKS

* FURTHER STORE CLOSURES LIKELY ACROSS ALL MARKETS, BASED ON STORE PERFORMANCE, OUTCOME OF LANDLORD NEGOTIATIONS

* “STILL ANTICIPATES AN ONGOING IMPACT ON REVENUE AND PROFITABILITY DUE TO THE UNCERTAINTY OF THE ECONOMIC LANDSCAPE”

* DIGITAL BUSINESS SAW BIG BOOST IN SALES IN LAST 3-WKS; OUTPERFORMS PRIOR RECORD DIGITAL SALES WEEK FROM CHRISTMAS 2019 Source text for Eikon: Further company coverage:

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