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In the second quarter ending September 30, Luk Fook Holdings, a prominent jewelry group, has revealed impressive double-digit growth in several critical indicators. Retail Sales Value on the Rise The group recorded an 18% year-on-year increase in Retail Sales…
Luk Fook sales in the third quarter fell 10 per cent on a same-store basis. “Recent market sentiment has been adversely impacted by the US-China trade war, the depreciation of Renminbi, and downward pressure in the stock and property markets,” said chairman…
Luk Fook posted lower retail revenue in the fiscal third quarter as high gold prices continued to weaken consumer sentiment. The group’s retail revenue fell 9 percent as Hong Kong and Macau plunged 20 percent and Mainland China soared 27 percent. Overall…
Hong Kong jeweler Luk Fook’s revenue and profit rose by around 30% to 40% for the full fiscal year that ended March 31, the company estimated. A low base of comparison with the previous year — which saw pandemic-related restrictions — is responsible for the…
Jeweler Luk Fook Holdings has warned shareholders of a “substantial decline” in both sales and profit for the June quarter. Revenue for the Hong Kong-headquartered company was down 60 percent year on year for the three months, with profit down by around 80…
Luk Fook Holdings has reported a 71-per-cent plunge in first-quarter same-store sales due to the impact of Covid-19 on tourist numbers traveling to Hong Kong. However, the company said that entering June, as retail sentiment in Hong Kong and on the mainland…
Hong Kong-listed jeweler Luk Fook has reported early signs of a recovery in the Hong Kong market this month, despite the border with Mainland China effectively-remaining closed to visitors. In April and May, with tourist numbers to Hong Kong and Macau at a…
Hong Kong-listed jeweler Luk Fook says its March-quarter same-store sales plunged 57 percent as the Covid-19 outbreak saw the mainland border closed and tourist numbers fall to almost zero. Sales of gem-set jewelry were down by 64 percent year on year, and of…
Hong Kong jeweler Luk Fook says its sales halved during the first two months of this year as the coronavirus outbreak caused an extensive lockdown of mainland Chinese cities and visitors to Hong Kong and Macau fell sharply. While most mainland stores have…
Hong Kong jeweler Luk Fook says its sales halved during the first two months of this year as the coronavirus outbreak caused an extensive lockdown of mainland Chinese cities and visitors to Hong Kong and Macau fell sharply. While most mainland stores have…
Hong Kong-headquartered Luk Fook group has followed its archrival Chow Tai Fook in revealing plans to shutter stores in the territory’s tourist areas – but it sees growth opportunities in Macau. “The group will reduce the number of shops in areas which are…
Hong Kong-listed jeweler Luk Fook sales slumped 19.8 percent in the September half as protests, the trade war, and the Renminbi’s value kept mainland tourists away, and the high gold price muted demand. The company reported sales of HK$6.3 billion (US$804.86…
Jeweler Luk Fook Holdings has revealed its September-quarter Hong Kong sales plunged 39 percent, dragging group-wide sales down by 37 percent. Chairman and CEO Wai Sheung Wong said in a stock-exchange filing that the decline was the result of high gold price…
The trade war between the US and China has been partially blamed for a 10 per cent fall in Luk Fook sales. In a quarterly sales update, the Hong Kong-listed jewellery retailer said a relatively higher base in the comparable period also contributed to the…
Luk Fook will add at least 150 stores in Mainland China this year as it looks to mitigate falling sales in Hong Kong. Releasing its results for the financial year to March 31, Luk Fook said profit attributable to shareholders rose 9 percent to HK$1.5 billion…
Luk Fook Canada has opened a new shop in CF Richmond Centre in Metro Vancouver. The new store is the first Oriental jewellery shop in the mall. “Adhering to the corporate vision of ‘Brand of Hong Kong, Sparkling the World’, the group has been actively…
