Chow Tai Fook Faces Sharp Sales Decline in Q1

Chow Tai Fook Jewellery Group (HK:1929) has released an update.

Chow Tai Fook Jewellery Group Limited reported a significant downturn in their operational data for the first quarter ending 30 June 2024, with Retail Sales Value (RSV) declining by 20%, and Same Store Sales (SSS) plummeting across Mainland China and Hong Kong & Macau due to ongoing macroeconomic challenges and high gold price volatility. Despite the overall negative trend, the Average Selling Price (ASP) for gold jewellery and gem-set jewellery remained resilient in both markets.

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