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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Michael Hill International
Michael Hill International (MHJ) investor relations material
Michael Hill International AGM 2026 summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.AGM 2026 summary22 Oct, 2026
Opening remarks and agenda
Rob Fyfe chaired his final AGM and is due to be succeeded by Claudia Batten on November 28, 2026; he cited continuity and confidence in CEO Jonathan Waecker.
Karen Bozic and Mark Bayliss joined the Board on August 29, 2026, bringing retail transformation, operational, audit, risk and turnaround experience.
AGM business included receiving FY26 reports, adopting the remuneration report, re-electing three directors and approving the Equity Incentive Plan.
Financial performance review
FY26 record revenue was $655.7m, up 4.1% in constant currency and 1.9% in AUD; same-store sales rose 5.2% in constant currency and 3.0% in AUD.
Gross margin held at 60.5%; cost of doing business fell 70 bps to 57.1% of revenue; comparable EBIT rose 57% to $24.0m and statutory NPAT was $10m.
Net debt was $5.5m and inventory was $189.7m; inventory productivity increased 13%.
In the first 16 weeks of FY27 through October 18, same-store sales grew 6.6% in constant currency and 2.3% in AUD; local-currency growth was 11.3% in Canada, 4.0% in Australia and 7.1% in New Zealand.
Board and executive committee updates
Rob Fyfe said he stayed beyond his planned mid-2025 departure to support continuity and the CEO appointment; he expressed confidence in Jonathan Waecker and incoming Chair Claudia Batten.
Tonia Zehrer joined as Chief Product Officer in January, Elodie Guillaumond joined as CFO in February, and Tanya Atkinson took new leadership at Bevilles.
David Whittle, Karen Bozic and Mark Bayliss stood for re-election; the presentation cited a new leadership team driving the business reset.
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Latest events from Michael Hill International
- Record revenue, EBIT up 57%, and dividend restored amid strong multi-market growth.MHJ
H2 2026 - Sales growth, margin stability, and digital acceleration drive profitable growth.MHJInvestor Day 2026 presentation
- Comparable EBIT up 28.6% and net profit after tax up 32.0% on 3.0% revenue growth.MHJH1 2026
- Flat results, no dividend, strong board support, and new initiatives amid tough conditions.MHJAGM 2025
- Stable revenue and margin, digital growth, and strong Canadian performance.MHJH2 2025
- Revenue rose but profit fell amid inflation; strategic and digital initiatives progressed.MHJAGM 2024
- Sales growth and margin recovery position the group strongly for the Christmas season.MHJQ1 2025 TU
- Revenue up 4.2% to $644.9m, but EBIT fell 73% as margin pressure persisted.MHJH2 2024
- Net profit rose to $16.9m as gross margin and digital sales improved.MHJH1 2025
Next Michael Hill International earnings date
H1 202728 Feb, 2027
Michael Hill International
Next Michael Hill International earnings date
H1 202728 Feb, 2027
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Frequently asked questions
Michael Hill International Limited is a New Zealand-based jewelry retailer known for designing and selling a range of fine jewelry, including rings, necklaces, bracelets, and watches. The company operates retail stores across Australia, New Zealand, and Canada, as well as an e-commerce platform to reach global customers. Michael Hill focuses on quality craftsmanship and innovative design, offering both classic and contemporary jewelry collections. The company is headquartered in Brisbane, Queensland, and its shares are listed on the ASX.