Luk Fook Group (00590) announced that the group's second-quarter overall retail value (including self-operated stores, brand stores, and e-commerce business) and retail revenue (including self-operated stores and e-commerce business) rose 8% and 23% year-on-year respectively, with the retail value share of gold and platinum products increasing 5 percentage points year-on-year to 83% due to a significant surge in sales of investment gold products.
The group's overall same-store sales for the second quarter were +12%. Although the international average gold price (per ounce in USD) rose 23% year-on-year during the quarter, the same-store sales amount of gold products priced by weight still grew by +22%, while its same-store sales weight growth was -2%. Facing a high base, same-store sales of fixed-price jewelry products were -12%, of which fixed-price gold products were -8%.
Among this, the group's retail value and retail revenue (including self-operated stores and e-commerce business) in the Hong Kong and Macau markets both rose 17% year-on-year in the second quarter, mainly benefiting from the price differential advantage of products in the Hong Kong and Macau markets relative to the mainland market and the appreciation of the renminbi, which drove mainland tourist traffic and business growth. Overall same-store sales in the Hong Kong and Macau markets were +13%, of which Hong Kong was +10% and Macau was +19%. Same-store sales of gold products in the Hong Kong and Macau markets were +24%, while same-store sales of fixed-price jewelry products were -13% under a high base, of which fixed-price gold products were -10%.
The mainland market's overall retail value (including self-operated stores, brand stores, and e-commerce business) fell 2% year-on-year in the second quarter, of which the retail value of gold products rose 4%, while fixed-price jewelry products fell 24%. Among fixed-price jewelry products, the retail value of fixed-price gold products fell 19%. Mainland retail revenue (including self-operated stores and e-commerce business) still rose 28% year-on-year despite a high base, and its e-commerce business sales also rose 28% year-on-year. The mainland market's overall same-store sales growth (including self-operated stores and brand stores) was +1%. Same-store sales of self-operated stores were +3%, gold products were +6%, and fixed-price jewelry products were -14%, of which fixed-price gold products were -3%.
The group's other markets saw retail value (including self-operated stores and brand stores) and retail revenue (including self-operated stores) rise 25% and 24% year-on-year respectively in the second quarter, mainly driven by the group's continued expansion of its international business footprint and active opening of new stores. Overall same-store sales in other markets were +14%. Same-store sales of gold products in other markets were +23%, while same-store sales of fixed-price jewelry products were -5%, of which fixed-price gold products were -4%.
The group continued to advance its international development, entering the European market for the first time during the quarter by opening one self-operated store in London, the United Kingdom. Together with entering the Singapore market in the first quarter, the group successfully expanded into two new countries in the first half of the fiscal year, achieving its full-year target ahead of schedule. In addition, the group also opened its first brand store in the Taiwan, China market during the quarter, and therefore the group net opened a total of 5 stores in other markets in the second quarter, located in London, the United Kingdom; Taiwan, China; Kuala Lumpur, Malaysia; Singapore; and Ho Chi Minh City, Vietnam.
However, as the brand store network in tier-four and tier-five cities in the mainland continued to be optimized and consolidated, the group's total number of stores worldwide decreased by a net 69 during the quarter. As of September 30, 2026, the group had a total of 2,788 stores worldwide.
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