BUZZ-HK jeweller Luk Fook hits 17-mth low as same store sales slip

Reuters04-19

** Shares of Luk Fook Holdings (International) fall 5% to HK$17.56, their lowest since November 2022

** Stock set for biggest one-day pct decline since April 12, on course to snap two consecutive sessions of gains

** The jewellery chain operator said its overall retail sales value increased 5% YoY for quarter ended March, but overall same store sales $(SSS.SI)$ fell 5% YoY, of which Hong Kong and Macau SSS fell 4% and mainland SSS declined 10%

** Bigger rival Chow Tai Fook Jewellery climbs 0.2%

** Hang Seng Consumption Index falls 1.3%, while Hang Seng Composite Index and Hang Seng Index both ease 1%

** Luk Fook shares down 14.8% YTD, Chow Tai Fook down 10.8% YTD

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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