At Chow Tai Fook Jewelery Group Limited, the leading jewelry house in Continental China, Hong Kong and Macao, announced a 9 percent increase in revenue year-on-year for the celebration of the Chinese New Year. Growth was due to the sale of jewelery with precious stones in Continental China.
The company's statement said that the growth in this region was 22%, while sales in Hong Kong and Macau fell by 24% at once. Comparable store sales of the company for the New Year period fell by 4%. Although in Continental China there was an increase in comparable sales by 11%, the decline in this indicator in Hong Kong and Macao reached 29%.
Jewelry with precious stones showed good sales, which grew at once by 26% during the holiday period. In Continental China, the growth in comparable sales of such products reached 62%, although in Hong Kong and Macau they fell, falling 17%.
Surprisingly, comparable sales of gold products decreased by 14%. In Continental China, the decline was 2%, while Hong Kong and Macao - just 38% compared with the same period last year.
Chow Tai Fook is engaged in the production and sale of mass premium and elite jewelry, including ordinary and karat gold, platinum and with inserts from precious stones. The company also sells watches of various brands.