In a sluggish market, jewellery group Luk Fook Holdings was still in the red for its first quarter, ending June 30, with its same-store sales falling 24 per cent.
Nevertheless, says the group, it was a slight improvement on the 27 per cent drop in the fourth quarter of the past financial year. This was mainly because of improved interest in both gold and gem-set jewellery products in Hong Kong and Macau.
However, the picture was a little more gloomy in China, with an easing demand for gem-set jewellery and gold products.
As at June 30, the group had 178 Lukfook shops – 115 in China (10 more than in the last quarter of the latest fiscal year), 47 in Hong Kong, 10 in Macau and six in overseas markets. Together with 1249 licensed shops in China (down 11) plus a new one in Korea, there were a total 1428 outlets worldwide.
The company says this data is subject to audit.