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Chow Tai Fook's Chinese New Year Sales +9%
Mar 2, 2015 3:23 AM
By Deena Taylor
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RAPAPORT... Chow Tai Fook reported that its retail revenue grew 9 percent year on year during the Chinese New Year holiday, spurred by strong sales of gem-set jewelry in Mainland China. However, the company did not provide sales figures.
Revenue from Mainland China rose 22 percent during the holiday period, while sales in Hong Kong and Macau dropped 24 percent. The company's same-store sales over the Chinese New Year decreased 4 percent. In Mainland China, same-store sales grew 11 percent, while same-store sales in Hong Kong and Macau fell 29 percent.
Total same-store sales for gem-set jewelry increased 26 percent during the holiday period. In Mainland China, same-store sales for gem-set jewelry surged 62 percent. In Hong Kong and Macau, same-store sales of gem-set jewelry declined 17 percent.
For gold products, total same-store sales dropped 14 percent. In Mainland China, gold product same-store sales slid 2 percent. In Hong Kong and Macau, gold-product same-store sales plunged 38 percent from the same period one year ago.
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Tags:
Chow Tai Fook, Deena Taylor, diamonds, gem-set jewelry, gold
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