RAPAPORT... Luk Fook saw a strong increase in its performance in the
fourth fiscal quarter amid improved sentiment and a higher rate of tourism to Hong Kong.
Same-store sales for all categories rose 16% year on year for the three months ending March 31, the Hong Kong-based jewelry retailer said last week.
Sales in Hong Kong and Macau were up 18% on a same-store basis, outweighing mainland China, which saw a 2% decrease. The retailer also benefited from higher gold prices, it said.
Same-store revenue growth “was better than expected and represented a
substantial improvement when compared to the 1% growth of the last quarter,” the company said.
Gold sales increased 16%, while gem-set jewelry sales climbed 18% for the three months ending March 31.
At the end of the period, the jeweler had 225 self-operated
stores, of which 157 were in mainland China, 48 in Hong Kong, 10 in Macau and
10 in other locations. The jeweler has a total of 1,404 licensed shops.
Image: Hpalsgm
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