Financial news
Written by: Zhang Weilun
2020-03-18 20:50
Last updated: 2020-03-19 05:12Lukfook Group (0590) announced the first two months of this year's operating data. Compared with the same period last year, the overall same-store sales fell 49.9% year-on-year, of which the same-store sales in Hong Kong and Macao markets fell 52.8% year-on-year, and the same-store sales in the mainland market fell 37.1% year-on-year.
The company also pointed out that according to the operating data for the first two months of this year and the preliminary assessment of the operating conditions at the beginning of March, it is expected that in the fourth quarter of the current fiscal year as of the end of March, revenue will decrease sharply, and there will be opportunities to record some losses. Revenue and profits throughout the fiscal year have the opportunity to fall sharply last year.
Lukfook pointed out that in the first two months of this year, same-store sales of gold products and jewelry products fell by 45% and 54.9% respectively; and also pointed out that in Hong Kong and Macau markets, same-store sales of gold products and jewelry products fell by 47.3% and 58% year-on-year. Since the company did not operate in Macau in February, retail sales in the Hong Kong and Macau markets fell by more than 50% year-on-year.
In the Mainland market, same-store sales of gold products and jewellery products fell 38.6% and 31.8% year-on-year. In addition, retail sales across China, including brand stores and self-operated stores, fell by approximately 50% year-on-year.
The company stated that it has taken measures such as natural wastage and unpaid leave in the epidemic to save staff costs, and at the same time actively negotiated rent reductions with the owners. However, the current fiscal year expansion plan has not been seriously affected, and the net growth in the number of stores for the year is slightly lower than the target 300.
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