Luk Fook Holdings (00590) announced that the group's overall retail value in the first quarter of the year fell by 18% year-on-year, mainly due to the high base effect...
Luk Fook Holdings (00590) announced that the group's overall retail value in the first quarter of the year fell by 18% year-on-year, mainly due to the high base effect and the impact of the soaring gold price. The group's overall retail revenue in the first quarter fell by 23% year-on-year, with a 31% drop in retail revenue in the Hong Kong and Macau markets and a 3% decline in the mainland China market. The group's overall same-store sales in the first quarter were -34%, with a 36% drop in the Hong Kong and Macau markets and a 24% decline in the mainland China market.
As of June 30, 2024, the group has a total of 3,484 stores globally, with a net decrease of 99 stores in the first quarter.