Chow Tai Fook Jewellery Group (Chow Tai Fook) released unaudited operational data for the three months ended 31 March 2026 (Q4 FY2026), highlighting diverging regional trends and continued network optimisation.
Group-level performance • Retail Sales Value (RSV) contracted 1.5% year-on-year. • Chinese Mainland, which contributed 83.7% of RSV, fell 8.2%. • Hong Kong, Macao and other markets, contributing 16.3%, expanded 58.5%, supported by robust tourist and local demand.
Same Store Sales (SSS) • Mainland self-operated stores posted marginal SSS growth of 0.2%, while franchised outlets declined 5.8%. • Hong Kong & Macao delivered 40.1% SSS growth, with Hong Kong up 36.8% and Macao up 50.1%.
Product mix and pricing • In the Mainland, weight-based gold jewellery SSS rose 6.7%; fixed-price jewellery dropped 10.3%. • In Hong Kong & Macao, both categories advanced sharply, rising 46.5% and 38.5% respectively. • Weight-based gold ASP climbed to HK$11,900 in the Mainland (vs. HK$7,800 a year earlier) and HK$21,200 in Hong Kong & Macao (vs. HK$13,600). • Fixed-price jewellery’s share of Mainland RSV edged up to 36.2%, aiding margin expansion.
Digital channel • Mainland e-commerce RSV grew 14.4%, accounting for 6.6% of RSV and 16.5% of volume.
Store network • Continuous rationalisation led to a net reduction of 128 CHOW TAI FOOK JEWELLERY points-of-sale (POS) in the Mainland during the quarter (13 openings, 141 closures). • Total CHOW TAI FOOK JEWELLERY POS stood at 5,460 as of 31 March 2026, with 70.9% operated under franchise agreements. • Two new flagship-format stores opened in Bangkok and Sydney, while Hong Kong welcomed a 10,000-square-foot flagship on Canton Road.
Strategic initiatives The group advanced its brand transformation through high-productivity store formats and broadened its offer with the launch of CTF Accessories and CTF HOME, extending engagement across lifestyle segments.
Caution All figures are unaudited and derived from internal management accounts for Q4 FY2026.
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