Hong Kong Sales Boost Luk Fook

RAPAPORT… Luk Fook’s same-store sales increased 22% year on year in
the first fiscal quarter, driven by a 26% rise in Hong Kong and Macau.



Same-store gold sales — at Luk Fook outlets open for
more than a year — in Hong Kong and Macau jumped 34% in the three months
ending June 30, while gem-set jewelry purchases climbed 19%. The jeweler released figures for sales at
shops it operates itself, but excluded franchises.


This year, Luk Fook sold higher-priced items in its gem-set jewelry category than it had in the previous year, accounting for the category’s boost in the Hong Kong market, the company
said last week.


Overall same-store sales in mainland China declined 2%, with
revenue from gold products falling 6%, while sales of gem-set jewelry rose 10%
over the period.


At the end of the period, Luk Fook had 225 self-operated
stores, of which 156 were in mainland China, 48 in Hong Kong, 10 in Macau and
11 in other locations. The retailer also has 1,439 licensed shops.




Image: Hpalsgm