RapNet


Rapaport News

 

Retail

 

高級搜尋
最新文章
視訊
功能
新聞
挖掘
原石市場
拋光市場
製造
零售

Luk Fook Sales Drop Due to Trade War

Dispute has had “continuing impact” on market sentiment, jeweler says.
Jul 23, 2019 4:13 AM   By Rapaport News
Print 列印 Facebook Facebook Twitter Twitter 共用 Share


RAPAPORT... Luk Fook’s same-store sales decreased 10% in the first fiscal quarter amid an unfavorable comparison with last year and the impact of the US-China tariff war.

Total same-store sales — at Luk Fook outlets open for more than a year — in Hong Kong and Macau dropped 10% in the three months ending June 30. Same-store gold sales plunged 20%, while gem-set jewelry purchases grew 6%. Although the average selling price for gem-set items declined by a double-digit figure, this was offset by a large increase in sales volume, the company said Monday. The figures are for shops it operates itself, but exclude franchises.

Overall same-store sales in mainland China slipped 7%, with revenue from gold products falling 4% and gem-set jewelry dropping 7%.

The figures look weak in comparison with the equivalent period last year, when same-store sales increased 22%. Luk Fook also noted “the continuing impact of [the] US-China trade war on market sentiment.”

At the end of the quarter, Luk Fook had 208 self-operated stores, of which 139 were in mainland China, 47 in Hong Kong, 11 in Macau and 11 in other locations. The retailer also has 1,653 licensed shops.

Image: A Luk Fook store in Hong Kong. (Luk Fook)
Tags: Luk Fook, Rapaport News
Similar Articles
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First



電洽: 1-702-893-9400
Member License Agreement   RapNet Trading Rules & Code of Conduct    私隱政策  
  
twitter twitter
關於 Rapaport
廣告業務