Due to Covid restrictions Hong Kong-based jeweler Luk Fook’s same-store sales fell 8% in the fourth fiscal quarter. Same-store sales dipped 17% year-on-year in Hong Kong and Macau for the three months ending March 31. While same-store sales of gold products slid 17% during the quarter, fixed-price jewelry decreased by 18%.
Luk Fook’s same-store sales in mainland China grew 5% year on year for the three months ending March 31. While sales in the first two months of the quarter rose 29%, the increase in Covid-19 cases reduced sales later. During the period same-store gold sales climbed 12% on the mainland during the period, while fixed-price jewelry slipped 14%.
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished
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