Chow Tai Fook’s quarterly retail sales value up 15.1%

Jewelry retailer Chow Tai Fook Jewellery Group Ltd. (1929.HK) announced on Thursday that its retail sales value rose 15.1% year-on-year in the quarter through June, the first quarter of its fiscal 2027 year.

By region, the company’s retail sales value increased 10.7% in Mainland China, while it jumped 44.8% in Hong Kong, Macao and other markets. The two segments accounted for 83.6% and 16.4% of the company’s retail sales value, respectively.

Same-store sales rose 19.6% at the company’s self-operated stores in Mainland China and 15.7% at its franchised stores. Hong Kong and Macao recorded 41.7% same-store sales growth, including 35% and 64.6% increases in Hong Kong and Macao, respectively. Softer gold prices stimulated demand, lifting same-store sales of weight-based gold jewelry by 38% in Mainland China and 63.7% in Hong Kong and Macao. Same-store sales of fixed-price jewelry in Mainland China fell 1%.

The company said its brand transformation and product upgrades supported higher average selling prices. The retail sales value of its Dawn Collection, launched in April, exceeded HK$870 million ($110.9 million) during the quarter. The company also continued to optimize its store network, recording a net closure of 258 Chow Tai Fook Jewellery points of sale in the Mainland China. It had 5,434 points of sale at the end of June.

Shares of Chow Tai Fook opened flat on Friday and were trading at HK$12.22 by the midday break, down 2.32%. The stock is down 12.7% over the past six months.

By Lee Shih Ta

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