Chow Tai Fook Jewellery hits 3-week low as quarterly retail sales slip

Chow Tai Fook Jewellery

23/04/2026 04:54

** Shares of Chow Tai Fook Jewellery Group 1929.HK slip 4.9% to HK$10.76, their lowest level since March 31

** Stock on track for biggest one-day pct fall since January 30 in its second declining session

** Hong Kong-based jewellery chain operator posts a 1.5% y/y slip in retail sales value for three months ended in March, with Chinese mainland down 8.2%, while Hong Kong, Macao and other markets up 58.5%

** Says same-stores sales (SSS) up 0.2% in Chinese mainland, and up 40.1% in Hong Kong, Macao and other markets, but volume down 30.9% and 12.2%, respectively

** Jefferies maintains "buy" rating on the stock but trims price target to HK$17.20 from HK$17.56 to be in line with its earnings revision to factor in slower sales/SSS performance in  4QFY26 vs 3QFY26

** YTD, stock down 12.8%, while benchmark Hang Seng Index .HSI up 0.9%

 (Reporting by Donny Kwok)

 ((donny.kwok@thomsonreuters.com))