CHOW TAI FOOK CONTINUES TO SELL STRONG IN Q1
Chow Tai Fook Jewellery Group is continuing its surge: During the first fiscal quarter of the year (three months ended June 30), the Hong Kong jeweler’s retail sales value grew 17% in mainland China.
According to Gem Konnect, retail sales value rose 7% in Hong Kong and Macau. Same-store sales grew 11% in Hong Kong, 5% in Macau. Sales of gold grew 16% in mainland China and 9% in Hong Kong. In Hong Kong and Macau, the average sale price of gold grew from $871 (HK$6,800) to $909 (HK$7,100) – an increase “primarily attributable to the gain in the average weight per gold product sold”.
Chow Tai Fook attributed the increase in same store sales of gem-set jewellery in mainland China to “an increase in both volume and average sales price during the quarter”.