HK-listed jeweller Luk Fook rises on strong quarterly sales; rivals climb

Emperor Watch & Jewellery

14/07/2023 03:45

** Shares of Luk Fook Holdings (International) Ltd  0590.HK 
 rise as much as 4.4% to HK$20.50, their highest since June 30,
and on course for a fifth consecutive session of gains
    ** Stock posts biggest intraday pct gain since June 29
    ** The jewellery retailer says its same-store sales (SSS)
for April-June quarter jumped 62% YoY, of which SSS for Hong
Kong and Macau grew 75% while mainland China up 3%   
    ** Co says it is looking forward to restoring and exceeding
its FY2019 performance in the current financial year amid strong
business growth momentum in Hong Kong and Macau, and a low base
effect 
    ** Bigger rival Chow Tai Fook Jewellery Group  1929.HK 
climbs 1.1% while smaller competitor Emperor Watch & Jewellery
 0887.HK  rises 1.6%
    ** The Hang Seng Commerce & Industry Index  .HSNC  climbs
0.5% and the Hang Seng Consumption Index  .HSCGSI  rises 0.8%
    ** The Hang Seng Composite Index  .HSCI  gains 0.4% and the
Hang Seng Index  .HSI  adds 0.6%
    ** As of last close, stock down 15.3% this year
    

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))