News

Advanced Search

Luk Fook's 4Q Same-Store Sales -10%

Apr 17, 2014 5:08 AM   By Deena Taylor
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share
RAPAPORT... Hong Kong-based jeweler Luk Fook Holdings reported that group same-store sales growth at its retail business dropped 10 percent year on year in the fourth quarter that ended on March 31. Without providing hard totals, the company reported same-store sales growth in Mainland China rose by 1 percent, while comparable-store sales declined 12 percent in Hong Kong and Macau.

The group's gold product same-store sales growth fell 15 percent during the quarter. In Mainland China, gold product sales fell 3 percent; however,  in Hong Kong and Macau the segment dropped 19 percent. By volume, same-store sales growth of gold products by weight for the mainland market rose 26 percent and declined by 1 percent in Hong Kong and Macau.

Luk Fook's overall gem-set jewelry sales declined 2 percent. Jewelry sales in Mainland Chine rose 23 percent but they fell  3 percent in Hong Kong and Macau. By volume, same -store sales growth for gem-set jewelry by number of pieces rose 18 percent for Mainland China and increased 4 percent in Hong Kong and Macau.

The group had 1,268 points of sale as of March 31, which included 1,125 licensed stores in Mainland China and 143 self-operated stores consisting of 45 self-operated stores in Hong Kong, 10 stores in Macau, 83 shops in Mainland China and five overseas.
Tags: Deena Taylor, gem-set jewelry, gold, Luk Fook Holdings
Similar Articles
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2021 by Rapaport USA Inc. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are registered TradeMarks.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.