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Michael Hill International (ASX:MHJ), the jewellery retailer, has been a disappointing holding for DMX Asset Management. In May 2024, DMX reported that the continued erosion of Michael Hill's operational performance was concerning, with the now-small position falling a further 33% during the month after a negative trading update. Michael Hill International operates in the Consumer Discretionary sector within the Specialty Retail industry, and Thesis Tracker has captured 1 comment from 1 fund manager, DMX Asset Management. Founded in 1979 and headquartered in Cannon Hill, Brisbane, Michael Hill is a specialty jewellery retailer offering rings, charms, watches and gifts through around 300 stores in Australia, New Zealand and Canada, together with online channels, and owns the Bevilles and TenSevenSeven jewellery brands. The company has been repositioning its brand toward a more premium offering while managing pressure on discretionary spending and rising operating costs, which have weighed on margins and profitability in recent years.
Company figures as of 15 Oct 2026. For information only.
Fund managers including DMX Asset Management have invested in Michael Hill International Ltd (ASX:MHJ).
The available fund manager commentary does not highlight specific opportunities or catalysts for Michael Hill, focusing instead on recent operational weakness.
DMX highlights continued erosion in operational performance and a negative trading update that drove a 33% share price fall, reflecting pressure on discretionary jewellery spending.
Michael Hill International Ltd. is a specialty jewellery retailer founded in 1979 and headquartered in Cannon Hill, Australia. The company offers a wide range of products, including rings, charms, watches, and gifts. Business operations are organized into four primary geographical segments: Australia, New Zealand, Canada, and Corporate and Other. The Corporate and Other segment manages revenue and expenses not directly tied to specific retail regions. Michael Hill provides retail sales and related jewellery services internationally, maintaining a structured approach to global operations.
General information only. Thesis Tracker reports what named fund managers have published about ASX companies. It does not take into account your objectives, financial situation or needs, and is not financial product advice or a recommendation to buy, sell or hold any security.
11,356 comments from 164 managers on 761 companies, snapshot 15 Oct 2026.