Chow Tai Fook unveiled its unaudited financial statements for the fourth fiscal quarter ended March 31, reporting a 22% increase in revenue on a year-on-year basis. The retailer notes good results of retail sales of luxury jewelry, especially jewelery with precious stones, as well as the recovery of wholesale business revenue in mainland China. According to Chow Tai Fook, her new stores in mainland China, Hong Kong and Macau provided a significant share of the group's revenues, Rapaport reports.
Sales of the group in mainland China jumped by 44%, while sales in Hong Kong and Macau fell by 3%.
Sales in the comparable stores of the Chow Tai Fook group grew by 4% on a year-on-year basis, including sales in China increased by 15% against the background of gradually improving consumer sentiment. Sales in comparable stores in Hong Kong and Macau fell 9% for the reporting quarter due to a reduction in consumer traffic.
Chow Tai Fook kept the product range relatively unchanged during the reporting period. The sale of jewelery with precious stones accounted for 24% of the group's total revenue, while gold jewelry sales accounted for 57% of total revenue.