Jan 12, 2021

Chow Tai Fook Q3 Sales Rise 18% As Covid Situation Eases In Mainland China

Chow Tai Fook reported a 17.5% jump in overall retail sales for the third quarter that ended 31st December, 2020, as a 26% rise in Mainland China offset a 12.5% drop in Hong Kong and Macau.

“In light of the easing COVID-19 situation in Mainland China, business there sustained an encouraging improvement and its same store sales (SSS) delivered a positive growth of 12.2% during the quarter.

“Challenging macros, the pandemic development and closure of major border crossings still weighed on the retail demand in Hong Kong and Macau during the Quarter. Yet, SSS decline in Hong Kong and Macau further narrowed to 32.6% and 25.8%, respectively, thanks to a lower base of comparison,” the company noted.

Caption: Chow Tai Fook store in Hefei, China. © Chow Tai Fook