Chow Sang Sang, a jewelry retailer based in Hong Kong, has reported a 3% rise in sales in the first half of the year. According to Rough & Polished, the rise is attributed to stronger demand in China “and a pickup in mainland tourism to the territory”.
Sales totaled $1.02 billion for the period, and profit rose 8% year-on-year to $50.1 million. Revenue in mainland China rose 8% year-on-year to $516.2 million. Sales in Hong Kong and Macau fell 5%.
Chow Sang Sang commented: “both the property market and stock market were showing stronger momentum, which was favorable to consumer sentiment. The slippage in arrival of mainland tourists had largely halted, despite the renminbi having been soft against the Hong Kong dollar”.
