CHOW TAI FOOK (01929) retail sales value in the third quarter decreased by 14.2% year-on-year.

CHOW TAI FOOK (01929) announced that the group's retail value for the three months ending December 31, 2024 (third quarter) decreased by 14.2% year-on-year. During the quarter, same-store sales at mainland China directly operated stores and franchise stores decreased by 16.1% and 12.3% respectively year-on-year. The Hong Kong and Macau markets continued to be affected by changes in consumer behavior and preferences due to outbound travel by citizens and mainland tourists, with same-store sales decreasing by 21.3%. Same-store sales in Hong Kong fell by 16.9%, while Macau decreased by 35.3%. The category of gold jewelry and products include gold products sold by weight and fixed prices. The average selling price in this category remained resilient during the quarter. The average selling price in mainland China rose to 6,300 Hong Kong dollars (Q3 FY 2024: 5,500 Hong Kong dollars), while in Hong Kong and Macau it rose to 8,800 Hong Kong dollars (Q3 FY 2024: 8,200 Hong Kong dollars). Despite the uncertain macro environment, same-store sales of jewelry inlaid, platinum, and K gold jewelry in mainland China showed a narrowing decline. Thanks to the group's effective annual promotional activities, same-store sales in Hong Kong and Macau grew by 33.7%. The average selling price of jewelry inlaid in mainland China rose to 10,100 Hong Kong dollars (Q3 FY 2024: 8,100 Hong Kong dollars), while in Hong Kong and Macau the average selling price remained at 17,500 Hong Kong dollars (Q3 FY 2024: 17,400 Hong Kong dollars).