Jeweler's sales increase 31pc

Chow Tai Fook Jewellery's (1929) sales grew 31 percent in the third quarter year on year with sales in the mainland - which contributed 89 percent of the total - rising 38.8 percent.

In contrast, sales in Hong Kong and Macau dropped by 8.7 percent for the three months ending December 31.

Same-store sales in the mainland posted a 10.70 percent jump while Hong Kong and Macau posted 14.40 percent growth, thanks to the stable local consumption in Hong Kong and a recovering tourist spending in Macau, the firm said.

In the mainland, same-store sales of gemsets, platinum and gold jewelry declined by 8.9 percent, but overall sales rose 6 percent during the quarter thanks to a healthy contribution from new openings.

Sales of gemsets, platinum and gold jewelry in Hong Kong and Macau fell by 19.4 percent, due to a tougher comparison base as more promotional campaigns were launched during the same period in the previous year.