A spate of break-ins at New Zealand stores has sapped morale, affected staff retention, and ultimately affected sales in what was already a softer economy
Security issues in New Zealand created a A$3m impact on earnings.
Key takeaway: Always hard to back up a record year, but economic conditions and higher costs combined with security issues in New Zealand have dragged on the result.
Net profits have more than halved at dual-listed jewellery retailer Michael Hill, with the troubled New Zealand operation weighing on the group result for the six months to the end of December.
While overall revenues were up by 4% to A$363 million ($385.9m) across the group, Michael Hill posted a
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Key takeaway: Always hard to back up a record year, but economic conditions and higher costs combined with security issues in New Zealand have dragged on the result.
