Chow Tai Fook sees same-store sales growth ease
Monday, January 14, 2019
China's largest jeweler Chow Tai Fook Jewellery Group(1929) posted a 6 percent decline in same-store sales growth in Hong Kong and Macau in the last quarter 2018 amid uncertain macro environment.
The same store sale growth in mainland China dropped 7 percent, but the same store average selling price continued to exhibit a positive growth in both markets during the quarter, the company said.
In Hong Kong and Macau, the retail sales value growth fell 1 percent, while same store sales volume growth slumped 11 percent. Sales value growth of gem-set jewelry declined by 8 percent, and sales value growth of gold product lost 6 percent in the last three months last year.
Shares of Chow Tai Fook slid 0.8 percent, or 5 HK cents, to close at HK$6.21.