MHJ, CCX, ATP: Quarterly updates from apparel and jewellery stocks

3 min read | May 02, 2022 08:02 PM AEST | By Aditi Sarkar

MHJ, CCX, ATP: Quarterly updates from apparel and jewellery stocks — Image source: © Dolgachov | Megapixl.com

Highlights

Michael Hill witnessed robust sales growth in the May quarter

City Chic made new partnerships with The Iconic, Dia, Amazon, Walmart, Zalando, and Debenhams

The Ease of COVID-19 lockdowns and operations of commercial flights in the Indonesian region are raising prospects for the delivery of pearls for ATP

As COVID-19 restrictions are easing off worldwide, businesses and workplaces have started returning to their regular schedule with a full workforce capacity. The fashion industry will benefit from this state of recovery as people are expected to rush to purchase clothes and jewellery once they step out of their homes. With this note, let us have a look at how these three ASX-listed fashion stocks: MXJ, CCX, and ATP, performed in the March quarter.

Michael Hill International Limited (ASX:MHJ)

Michael Hill is a jewellery retailer in North America and Oceania. It trades a variety of diamond engagement rings, diamond jewellery, earrings, watches, and bracelets.

MHJ experienced solid sales growth in the March quarter. Let us have a look at key highlights.

At the end of the quarter, the company’s total number of stores reached 283 across all markets spanning Australia, New Zealand, and Canada.

City Chic Collective Limited (ASX:CCX)

City Chic is a fashion retailer based in Australia. It has plus-sized women’s apparel, footwear and clothing offerings.

CCX’s business was affected in January and February due to COVID-19-related restrictions, after which, it has been witnessing week-on-week improvements. It also witnessed an improvement in the Easter week this year compared to last year. Let us have a look at the company’s trading update in the period between 27 December to 24 April:

Total sales growth of 25.4%, with wholesale growth being the largest at 2415.4%
2% sales growth in the American region
Rapidly growing global partnership and 465% sales growth. Made new partnerships with The Iconic, Dia, Amazon, Walmart, Zalando, and Debenhams.

Atlas Pearls Ltd (ASX:ATP)

Atlas Pearls specialises in silver & white South Sea pearl necklaces, rings, studs & more. The company is operating along with seven sites and harvests more than 550K pearls each year.

As the company’s farms are in the Indonesian Archipelago, the ease of COVID-19 lockdowns and the operation of commercial flights in the region are increasing opportunities for the delivery of pearls.

Key highlights of ATP for the March quarter are as follows:

Cash inflow of AU$426K from operations, which exceeded the company’s expectations
Revenue of AU$5 million from sales
Held two physical auctions in Bali which have continued online presentations for international participation

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.