Luk Fook Reports Plunging Sales in China, Hong Kong and Macau

18/04/2016 10:50

Chinese jewelry retailing giant Luk Fook reported quarterly same-store retail sales plummeting 27% due to “sluggish” consumer sentiment in Greater China. Meanwhile, revenue from sales in Hong Kong and Macau dropped even more – down 28% – in the fourth fiscal quarter that ended March 31. The figures were similar to those reported by Chow Tai Fook last week. Sales in mainland China dropped at a slower pace, but were still down 19%. Same-store sales plunged 25% in the previous quarter.