Hong Kong-listed jewellery company Luk Fook Holdings (International) Ltd. saw its same-store sales plunge by 24 per cent year-on-year in Hong Kong and Macau for the three months ended June 30, it informed Hong Kong Stock Exchange yesterday. Between April and June, the retailer’s same-store sales of gold fell by 25 per cent year-on-year in the two Special Administrative Regions, while that of gem-set jewellery dropped by 20 per cent year-on-year. The company did not reveal the related financial figures during the quarter in its filing. For the three months, the retailer’s overall same-store sales also recorded a year-on-year decrease of 24 per cent. ‘It was a reduced decline against the [drop of 27 per cent] in the fourth quarter of last financial year mainly due to a narrower same-store sales growth drop in both gold and gem-set jewellery products in Hong Kong and the Macau market,’ the company wrote. Meanwhile, the company’s Mainland business experienced a fall of 24 per cent year-on-year in same-store sales, as well, with that of gold products tumbling 37 per cent year-on-year, while that of gem-set jewellery fell 8 per cent.
—
