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An update from Chow Tai Fook Jewellery Group ( (HK:1929) ) is now available.
Chow Tai Fook Jewellery Group reported a decline in retail sales value by 14.2% for the third quarter of 2024, influenced by macroeconomic factors and high gold prices. However, the company noted a narrowing of the same-store sales decline due to stable gold prices and successful product optimization. While Mainland China’s same-store sales fell by 16.1%, Hong Kong and Macau faced a 21.3% decline. Despite these challenges, the average selling price for gold jewellery remained resilient, and new concept stores in Xi’an and Shenzhen showed promising sales productivity. The company continues to focus on pricing optimization and product diversification to meet customer preferences, with collections like the CTF Rouge and Chow Tai Fook Palace Museum performing strongly.
More about Chow Tai Fook Jewellery Group
Chow Tai Fook Jewellery Group Limited is a leading player in the jewellery industry, known for its high-quality gem-set, platinum, k-gold, and gold jewellery. With a strong market presence in Mainland China, Hong Kong, and Macau, the company focuses on retail sales through self-operated and franchised points of sale.
YTD Price Performance: 8.31%
Average Trading Volume: 1,335
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $9.05B
For detailed information about 1929 stock, go to TipRanks’ Stock Analysis page.
