Luk Fook Holdings Faces Sharp Sales Decline

Luk Fook Holdings (International) (HK:0590) has released an update.

Luk Fook Holdings (International) Limited reported a downturn in its retail sales performance for the first quarter of FY2025, with an 18% drop in overall retail sales value (RSV) and a 23% fall in retailing revenue year-on-year. Same store sales (SSS) plummeted by 34%, influenced by a significant rise in gold prices and a challenging high base effect. The company also experienced a net closure of 99 shops during this period.

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