BRIEF: Luk Fook reports strong September-quarter sales
Jewelry retailer Luk Fook Holdings (International) Ltd. (0590.HK) said on Tuesday its retail sales value rose 18% sequentially during its latest fiscal quarter through September, while its retailing revenue increased 15%, and same store sales grew 10%.
In Hong Kong, Macao and overseas markets, both retail sales value and retailing revenue rose 13% year-on-year during the latest quarter. In Mainland China, retail sales value rose 20% year-on-year. Additionally, same store sales in Hong Kong increased 10% sequentially, while those in Macao rose 15% and overseas markets grew 13%.
In Hong Kong, the average selling price for gold products rose 27% year-on-year to HK$16,000 ($2,059) from HK$12,600 in the September quarter, which is the company’s second fiscal quarter. For priced jewelry products, the average selling price increased 27% to HK$6,100 from HK$4,800.
Shares of Luk Fook opened down 0.6% at HK$25 on Wednesday. The stock is up over 90% from its 52-week low.
By Lau Chi Hang
To subscribe to Bamboo Works weekly free newsletter, click here
Related Articles
RELATED ARTICLES
-
Chow Tai Fook rediscovers gold in convertible bonds
1929.HK -
BRIEF: Luk Fook’s retail sales rebound in first quarter
0590.HK
- Trendy jewelry maker CHJ joins Hong Kong IPO ‘gold rush’
-
BRIEF: Luk Fook Holdings fiscal year profit drops 40%
0590.HK
-
Fosun jewelry unit mines gold from new investors even as its profit shrinks
0656.HK 600655.SHG
-
BRIEF: Chow Tai Fook’s revenue slumps, shutters 406 stores
1929.HK
- High gold prices may take the shine off Hipine as it seeks Hong Kong IPO
