Luk Fook Holdings (International) ( (HK:0590) ) just unveiled an announcement.
Luk Fook Holdings reported a narrowing year-on-year decline in its third-quarter retail sales value by 6%, showing improvement over previous quarters. Although overall retailing revenue fell by 9% and same-store sales decreased by 22%, there was a notable increase of 27% in Mainland China’s market. The company faced challenges from high international gold prices, resulting in a 26% drop in gold product sales, yet saw progress in fixed price jewellery, particularly with a 58% increase in fixed price gold products, demonstrating a strategic pivot away from diamond products.
More about Luk Fook Holdings (International)
Luk Fook Holdings (International) Limited is a company engaged primarily in the retailing of gold and platinum products, as well as fixed price jewellery. The company’s operations include self-operated shops, licensed shops, and e-commerce platforms, with a focus on markets in Mainland China, Hong Kong SAR, and Macau SAR.
YTD Price Performance: -10.75%
Average Trading Volume: 7,313
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $1.05B
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