Hong Kong jeweler Luk Fook Holdings (International) Limited (590) yesterday reported its same store sales rose 2 percent for the fourth quarter ended March 31, the first positive growth in three years, thanks to a relatively low base and improvement in Hong Kong and Macau in March.
The same store sales of Hong Kong and Macau increased 1 percent. For the gem-set jewelry segment, the same store sales saw 12 percent growth while sales for gold slid 5 percent.
Same store sales growth for gem-set jewelry and gold was 6 percent and 16 percent respectively in the mainland market, with 11 percent overall growth in the market.
The share price rose slightly to HK$27 yesterday and has recorded 30 percent growth this year.