MHJ - Michael Hill International

[Waltzing]

Said befoe winner when the shop was first shown in the press.. they have one of them and how will they fund the rest...

There will be a board meeting and surely ROB F will or someone will explain that right now is NOT the time to go BIG....

Back to basic im afraid... shut NZ stores and discount is what everyobe does in a recession...

They might just stay in business if they are lucky and ALL jewellers who buy gold will be having margin problems...

back to waiting for the TRA report...

 

[Waltzing]

There is no doubt that M HILL is a sales genius and one of the best and maybe 2 or 3 high end stores in the right places over time...

They certainly know how to keep the sales going but they need to take the knife farther to the business..

It appears they have got a little bit over their skies...

Interesting about the new fake diamonds... but not new for them.

Maybe sell more of them and less gold....

Get the product mix sorted that gives the best margins...

Some others in the business seem to do this beter and that might be why they have a much higer P/E.

Its more a 27 story if they can keep afloat .. back to scrapping along the bottom for a while then for them...

More money in second hand cars then... who would have thought...

  Forgive me MH... my lack of vision!!!! Im mean YELLOW DIAMONDS DA!  of course how silly of us!!!

[winner (n)]

He did well with his shoe shops

[Waltzing]

YELLOW DIAMONDS winner()...

Your not showing the fath or VISION here...

Its obvious that the public has a LOT TO LEARN about what they should be buying ... MILLION DOLLAR YELLOW DIAMONDS!!!

right well that rules out most of the NZ diamond buying public ....

and suggest the AUCKLAND version of the store be delayed after come Chinese said they felt safer in CHINA!!!!

mind you AUSTRALIA is wealthy and COPPER prices are up and Europe needs GAS....

maybe there are sectors of the AUS economy that can splash the CASH!!

Silly KIWIS not invited to thart party and maybe only the members of the HILLS can afford them...

MH maybe on to something ...

[Waltzing]

Ok - once the first store takes off... Its Singapore... Dubia ... PARIS! NEW YORK!!!

how silly of us not to see that this is pathway to the country club set...

what if this guy actually knows a few people in this set...

cant afford the TOP TOP shelf but you want to look good at the CUP ... well ..

https://www.youtube.com/watch?v=T10VecAun-Y

[BlackPeter]

YELLOW DIAMONDS winner()...

Your not showing the fath or VISION here...

Its obvious that the public has a LOT TO LEARN about what they should be buying ... MILLION DOLLAR YELLOW DIAMONDS!!!

right well that rules out most of the NZ diamond buying public ....

and suggest the AUCKLAND version of the store be delayed after come Chinese said they felt safer in CHINA!!!!

mind you AUSTRALIA is wealthy and COPPER prices are up and Europe needs GAS....

maybe there are sectors of the AUS economy that can splash the CASH!!

Silly KIWIS not invited to thart party and maybe only the members of the HILLS can afford them...

MH maybe on to something ...

Maybe time to share our recent (well, Jan 2024) MH Experience. Not sure how you guys are doing with wedding bands, but ours seem to wear off over time and need replacement every sort of 20 years. Gold is just too soft ...

So - this was the year and we went to MH to look for a new set of wedding bands. Explained that the sales  lady and then she asked when the celebration will be. Hmm.

We've seen some fancy bands on the Internet, and yes, she even had them to show us but unfortunately - not in our sizes and no, they can't order them in the right size either. Hmm.

We found then in the shop another set of rings we did like and said to the sales lady, we want to buy them.

She even had them in our sizes - hurrah! But wait ... she started to work her computer and said she can't sell them (apparently the system told her that they are not here).

OK - after consultation with some colleagues she found out that they are here (well, it was easy enough to see that) and that there  might be a problem with their computer.

Took her further 15 minutes to convince the computer to issue a bill for a set of rings the computer thought are not here and to accept our money (she had to tell the computer that she was ordering the rings for us, we paid them, and then she could give us the rings which she already had) - and the only place for us to wait during this time was in front of the cash register. No seats, no friendly cup of coffee - and only at the end of the process a pretty weak apology.

Couple of days later I received an email from MH asking for feedback re our latest experience in buying their bands. Well, I described our experience (as per above) and indicated that its ok if they contact me re my feedback. Though I might give them a second chance for a proper apology.

Nope - 4 months later and nobody from MH bothered to contact us again.

Guess where we buy our next jewellery? - certainly not anymore with this bunch of inapts.

If they are doing tough, it is certainly not the recession. It is a combination of really bad IT, lack of staff training, lack of staff empathy and clearly a customer satisfaction process only meant as fig leave and not to measure or improve customer satisfaction.

Discl: Very happy Non-holder.

[BlackPeter]

I wondered whether our MH experience is unusual and did a very brief google search. Looks like there are a lots of unhappy customers out there:

https://www.1news.co.nz/2024/04/16/fair-go-how-long-should-a-wedding-ring-last/

Maybe I should do this next time before I waste my time and money with them ... but I guess if anybody wants to know why they are doing tough, there is no need to look any further.

It appears that not just their systems and staff training are broken, they have as well the habit of selling quite expensive junk and afterwards trying to wiggle out of their legal requirements. 

Uninvestable.

[Waltzing]

Mitre 10 has an OLD  text screen system..upgrading to SAP ... taking 2 years ...

you would be suprised how old some of this stuff is... BANKS?

think you would be surprised how old systems are all round the country...

Nice article from BP... you should post your review BP...

https://www.productreview.com.au/listings/michael-hill

Heres one for the other crowd   that is making the money..

https://www.productreview.com.au/listings/lovisa

MHJ ballroom silver cuff links still going well after 20 years... purchased in Auckland.

All depends then on the product and design team of the day... well.

[Ferg]

Mitre 10 has an OLD  text screen system..upgrading to SAP ... taking 2 years ...

Off topic I know but word on the street is Mitre 10 Head Office haven't been collecting their rebates due to the new system issues.  Having the right systems and processes is crucial.  Same goes for manufacturing products that should last....like wedding rings.

[Waltzing]

Yes "like wedding rings."

Danial needs to sort that out unlike the ballroom cuff links from early 2000...

Note to Danial ... sort it out before drinking the Champagne ... coool AID..

[Basil]

Bought one of these about 10 years ago from my local Pascoe's store.  Quite a heavy watch though but Seiko are super accurate and last really well and the gold plating stays looking brand new.
https://www.michaelhill.co.nz/p/seiko-mens-coutura-chronograph-perpetual-ssc514p-watch-18386226.html
I see after all these years Michael Hill actually stock them now, after so many years of trying to ram their own cheap junk house brand watches down people's throats.
Little known fact is that solar watches actually do have a battery and it's a tiny lithium-ion one that needs replacing every 10 years or so.  If my watch doesn't get a decent amount of sun at least once a week now, it stops working which never used to be an issue until a few months ago.

I wouldn't even think about wasting my time taking it to my local Michael hill store because I know battery replacement takes some actual talent and skill that I am 99% sure Michael hill staff either wouldn't have the part or the skill to do.  Actually, just for a laugh I might ask them and see what happens.  They're not far away from Pascoes...actually no thanks, I want my watch to work properly and not be stuffed up by inept staff.

[Waltzing]

Yes got some work to do on QC... but a company can always change it ways ... remember how bad HGH used to be real shocker.. now your all buying, well some people anyway.

picked up my last seiko in sGravenhage (Den Haag) in 2020 just before that last flight back ...  still not safe to return to sweden as if the wind changes direction and one of those OLD ukraine gaint nuclear power stations melts down ...

MHJ is not in melt down mod yet... D needs to wake up and this loss and more to come might do the job... sobering up the team...

As stated by SIR B below ...  some stores in NZ need closing as AUS economy the one with growth potential..

[Basil]

Team morale probably at an all-time low with the massive number of daylight robberies going on.  Real risk to staff.... must play on their minds a fair bit.
https://www.nzherald.co.nz/business/michael-hill-increase-in-serious-crime-impacting-stores/4FZH5PCVMBA5VBNXYF7SI2YVOE/

[lorraina]

Bought one of these about 10 years ago from my local Pascoe's store.  Quite a heavy watch though but Seiko are super accurate and last really well and the gold plating stays looking brand new.
https://www.michaelhill.co.nz/p/seiko-mens-coutura-chronograph-perpetual-ssc514p-watch-18386226.html
I see after all these years Michael Hill actually stock them now, after so many years of trying to ram their own cheap junk house brand watches down people's throats.
Little known fact is that solar watches actually do have a battery and it's a tiny lithium-ion one that needs replacing every 10 years or so.  If my watch doesn't get a decent amount of sun at least once a week now, it stops working which never used to be an issue until a few months ago.

I wouldn't even think about wasting my time taking it to my local Michael hill store because I know battery replacement takes some actual talent and skill that I am 99% sure Michael hill staff either wouldn't have the part or the skill to do.  Actually, just for a laugh I might ask them and see what happens.  They're not far away from Pascoes...actually no thanks, I want my watch to work properly and not be stuffed up by inept staff.

I was upset that my Temu watch's battery needed replacing after about 2 years use.
New battery was $8.00 from WHS.33.33% dearer than the watch had cost me...lol

[lorraina]

I was upset that my Temu watch's battery needed replacing after about 2 years use.
New battery was $8.00 from WHS.33.33% dearer than the watch had cost me..
But well worth the money as it keeps great time......

PS.Bought a couple more watches from Temu.Cheaper than buying new batteries ...