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Jewellers gain on solid HK, Macau recovery

Retailers Chow Tai Fook Jewellery Group Ltd and Luk Fook Holdings (International) Ltd reported strong sales in their fourth fiscal quarter ending March 31, 2023, thanks to the reopening of borders and resumption of retail activities in Hong Kong and Macau.

Chow Tai Fook said overall sales grew 14.2 per cent, with China, and Hong Kong, Macau and other markets recording respective increases of 9.6 per cent and 71.2 per cent.

“General mobility and retail activity in China and Hong Kong and Macau indicated signs of recovery, following the shift in Covid policy in China,” noted Chow Tai Fook.


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