Hong Kong-listed Luk Fook Holdings (International) Limited reported a strong start to FY2027 (1 April–30 June 2026), extending last year’s momentum despite a tougher comparison base.
Overall Performance • Retail sales value (RSV) climbed 32% year-on-year, while retailing revenue (self-operated shops ＋ e-commerce) advanced 43%. • Same-store sales (SSS) accelerated to +39% (4Q FY2026: +33%). • Gold and platinum products accounted for 82% of RSV, up 6 percentage points, fueled by demand for investment gold amid a 37% rise in international gold prices. • SSS for weight-based gold jumped 50% in value and returned to positive territory in volume at +13%. Fixed-price gold SSS increased 34%, offsetting a 17% decline in 18K gold diamond.
Regional Breakdown Hong Kong, Macao & Overseas • RSV and retailing revenue each surged 41% YoY; SSS gained 41% (Hong Kong +44%, Macao +49%, overseas +14%). • Average selling price (ASP) of Hong Kong gold products rose 17% to HK$16,800, while fixed-price jewellery ASP climbed 27% to HK$8,000. • The widened price gap with Mainland and RMB appreciation continued to draw Mainland visitors, supporting growth.
Mainland China • RSV increased 22% YoY; retailing revenue rose 41% despite a high base. • SSS of self-operated shops rebounded to +16% (gold +21%, fixed-price jewellery -7%). • E-commerce sales advanced 39%, led by a 54% rise in online gold sales. • Gold’s share of RSV expanded to 84%; fixed-price jewellery retreated to 16% amid a 56% drop in 18K gold diamond sales.
Network Update • Net decrease of 148 outlets during the quarter, mainly from licensed shop consolidation in lower-tier Mainland cities. • Total footprint stood at 2,857 shops worldwide as of 30 June 2026: 2,730 in Mainland, 74 in Hong Kong & Macao, and 53 overseas. • Entry into Singapore and one additional outlet in Vietnam added two overseas shops; management targets at least two new countries and a net addition of 30 overseas stores in FY2027.
Outlook Management remains cautiously optimistic. While gold price volatility and Mainland macro uncertainties persist, supportive government policies and sustained cross-border demand underpin medium- to long-term prospects. The Group plans to continue selective Mainland expansion and accelerate overseas growth.
(All figures are year-on-year unless otherwise stated; data derived solely from the company’s 16 July 2026 announcement.)