Lukfook records retail sales growth during Golden Week
Luk Fook Holdings (International) Ltd’s same-store sales growth during the week-long National Day holiday grew 3 percent in the Hong Kong and Macau market, and 28 percent in mainland China.
The “Golden Week” ran from October 1 to 7.
The retailer attributed the slight increase in same-store sales growth in the Hong Kong and Macau market to a relatively low international gold price, which drove demand for gold products. Although the “Occupy Central” movement in Hong Kong caused a disruption of normal operations in some stores at certain districts, the adverse impact was mitigated by substantial sales growth in its other shops, the company added.
With the high base effect, same-store sales growth of the group’s retail business for the second quarter of FY2015 recorded a drop of 21 percent – an improvement over the 54 percent drop in the first quarter. The same-store sales growth of the Hong Kong and Macau market and mainland China market dropped by 20 percent (2014: +33 percent) and 30 percent (2014: +66 percent), respectively.