Jeweller Luk Fook Holdings (International) Ltd has reported robust retail sales performance in Q4. Attributing it to a low base effect and the recent decline in gold prices, Lukfook said group sales recovered from a loss of 29 per cent last quarter to a growth of 30 per cent from January to March 2021.
According to the company, with effective pandemic control of COVID-19, same-store sales in mainland China almost doubled during the quarter. Also, sales in Hong Kong and Macau, too, rebounded recording a 19 per cent growth in Q4.
Sales of gold and fixed-price jewellery products rose by 28 per cent in Hong Kong and 9 per cent in Macau. Same-store sales of self-operated shops in mainland China were also higher by 93 per cent, with gold and fixed-price jewellery items improving by 110 per cent and 62 per cent, respectively.
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished
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