Luk Fook Holdings (International)'s (HKG:0590) retail sales value (RSV) fell by 18% year over year during the three months ended June 30, mainly due to the high base effect and the record-high gold prices, a Thursday bourse filing said.
Retailing revenue fell by 23% from the year-ago period, while overall same-store sales decreased by 34% year over year.
The jewelry retailer saw a net reduction of 99 shops in the first fiscal quarter, according to the filing.
Shares of the company closed nearly 2% lower on Thursday.
Price (HKD): $15.48, Change: $-0.24, Percent Change: -1.53%
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