Core Viewpoint - Luk Fook Holdings (00590) shows a resilient performance with a stock price increase of over 2%, reflecting strong retail sales growth in Q2 of FY2026, driven by a low base effect and improved same-store sales [1] Group 1: Sales Performance - The overall retail sales value for Q2 increased by 18% year-on-year, while retail revenue rose by 15% compared to the previous year [1] - The retail value of gold products, which are priced, saw its proportion increase by 4 percentage points to 16% compared to the same period last year [1] - Same-store sales improved to +10% in Q2, indicating a positive trend in customer demand [1] Group 2: Market Performance - In the Hong Kong, Macau, and overseas markets, both retail value and retail revenue increased by 13%, with same-store sales showing a double-digit growth of +11% [1] - The mainland China market performed well, with retail value increasing by 20% and retail revenue rising by 23%, primarily driven by e-commerce [1] Group 3: Gold Price Impact - Despite a 40% year-on-year increase in international average gold prices, same-store sales for gold products improved from flat to +6% [1]

Core Viewpoint - Hong Kong's retail sales in August increased by 3.8% year-on-year to HKD 30.3 billion, marking the fourth consecutive month of growth, surpassing market expectations of 2% and the bank's forecast of 1% [1] Retail Sales Performance - The year-to-date retail sales decline narrowed to 1.9% for the first eight months, an improvement from the 2.6% decline in the first seven months [1] - The bank anticipates that retail sales for the full year may return to flat levels, primarily driven by an increase in visitor numbers, with mainland Chinese and long-haul travelers rising by 15% and 23% year-on-year, respectively [1] Sector Analysis - Luxury goods sales showed strong performance, attributed to increased traveler spending and a low base effect, while essential goods sales remained weak [1] - Companies such as Wharf Real Estate Investment (01997) and Hysan Development (00014) may benefit from this retail sales improvement, although there are concerns regarding rental pressure and increased shopping at mainland duty-free stores [1] - New World Development (00017) is expected to capture a larger market share in the Tsim Sha Tsui area [1]

Core Insights - In August, UK retail sales increased by 0.5% month-on-month, surpassing market expectations of 0.3% and matching the revised growth rate of July [1] - The growth was primarily driven by strong performances in clothing stores, non-store retail, and specialty food shops, with favorable weather cited as a contributing factor [1] - Year-on-year, retail sales grew by 0.7% in August, lower than July's 1.8%, but marking the third consecutive month of annual increases [1] Retail Performance - Online retail sales rose by 0.4% month-on-month and 4.7% year-on-year in August, with non-store retail achieving growth for seven consecutive months [1] - Despite the positive monthly data, there are concerns as retail sales volume declined by 0.1% over the three months leading up to August compared to the previous quarter, indicating a potential weakening in growth momentum [1] Future Outlook - Analysts suggest that while August's retail data exceeded expectations, the uncertain economic environment and high living costs may lead to a slowdown in retail sales growth in the second half of the year, warranting further observation of market trends [1]

Group 1 - UK retail sales in August grew by 0.5%, exceeding analyst expectations of 0.4%, indicating resilience in consumer spending despite government tax increases [1] - Strong sales in clothing and baked goods offset declines in computer and telecommunications equipment sales, suggesting a mixed performance across sectors [1] - The Labour government's £26 billion (approximately $35 billion) tax increase and higher minimum wage standards raised market concerns, but strong retail sales provide some relief to the Chancellor [1] Group 2 - Consumer spending accounts for about 60% of total expenditure, making it crucial for the Labour government to avoid a cautious consumer sentiment [1] - The UK government is focused on revitalizing economic growth to prevent significant tax increases in the upcoming budget [1] - The Consumer Price Index (CPI) in August rose by 3.8% year-on-year, consistent with previous months and aligning with predictions from the Bank of England and private sector economists [1] Group 3 - The Bank of England is maintaining interest rates at 4% amid concerns over rising inflation, with a cautious outlook on future rate cuts [1] - Inflation is expected to reach 4% this month, with particular concern over spiraling food prices due to their importance to consumers [2]

Group 1 - Canadian retail sales in June increased by 1.5%, matching the forecast of 1.5% [1] - The previous value was revised from -1.10% to -1.2% [1]

Core Insights - The U.S. Census Bureau reported a month-over-month increase of 0.5% in retail sales for July [1] Group 1 - The retail sales growth indicates a positive trend in consumer spending, which may reflect economic resilience [1]

Group 1 - The core point of the article is that Germany's retail sales in June experienced a year-on-year increase of 4.6%, surpassing the previous value of 3.6% [1]

Group 1 - The core point of the article is that U.S. retail sales increased by 0.6% in June, significantly surpassing the forecast of 0.1% and improving from a previous decline of 0.9% [1]

Group 1 - Costco reported a retail sales growth of 8% in June, surpassing May's growth of 6.8% [1] - Comparable sales, adjusted for gasoline prices and currency, increased by 6.2% over five weeks, with international markets growing by 8.2%, Canada by 7.9%, and the U.S. by 5.5% [1] - Analysts have mixed views on Costco's outlook, with some noting a trend of declining U.S. foot traffic below 3% for two consecutive months [1] Group 2 - Evercore ISI analyst Greg Melich highlighted a core comparable sales growth of 6% but indicated a sales slowdown trend for the second half of the year [1] - Bank of America holds a more optimistic view, expecting a rebound in foot traffic in July due to extended store hours and additional Saturday hours [1] - UBS maintains a neutral stance, acknowledging a slowdown in overall comparable sales growth due to high base effects from gift card and precious metal sales [1] Group 3 - As of the report, Costco's stock rose 0.4% to $985.5, with a year-to-date increase of 7%, outperforming the S&P retail index ETF (XRT) [2] - Wall Street analysts generally rate Costco as "moderate buy," with an average target price of $1107.89, representing a 12% upside from the current stock price [2]

Group 1 - Hong Kong's retail sales volume increased by 1.9% year-on-year in May, contrary to the forecast of a decline of 3.7% [1] - Retail sales value in Hong Kong rose by 2.4% year-on-year in May, while the forecast predicted a decrease of 1.8% [1]