周大福：Sales under ST pressure, fixed-price products to contribute more

29 Jul 2024 CMB International Global Markets | Equity Research | Company Update Chow Tai Fook (1929 HK) Sales under ST pressure, fixed-price products to contribute more Chow Tai Fook (CTF) reported 1QFY25 (calendar year 2Q24) operational data with a 20% YoY decline in total retail sales value (RSV). RSV in Mainland China/ HK & Macau fell 18/28.8% YoY, with same-store sales growth (SSSG) down 26.4/30.8% YoY. The sluggish results were due to weak consumer spending and gold price volatility that intensified co ...