HK jeweller Luk Fook hits 17-mth low as same store sales slip

Luk Fook Holdings (International)

19/04/2024 08:10

** Shares of Luk Fook Holdings (International)  0590.HK 
fall 5% to HK$17.56, their lowest since November 2022
    ** Stock set for biggest one-day pct decline since April 12,
on course to snap two consecutive sessions of gains
    ** The jewellery chain operator said its overall retail
sales value increased 5% YoY for quarter ended March, but
overall same store sales (SSS) fell 5% YoY, of which Hong Kong
and Macau SSS fell 4% and mainland SSS declined 10%   
    ** Bigger rival Chow Tai Fook Jewellery  1929.HK  climbs
0.2% 
    ** Hang Seng Consumption Index  .HSCGSI  falls 1.3%, while
Hang Seng Composite Index  .HSCI  and Hang Seng Index  .HSI 
both ease 1%
    ** Luk Fook shares down 14.8% YTD, Chow Tai Fook down 10.8%
YTD   

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