Zhou Dafu Announces A Sharp Fall In Retail Value Of Spring Festival Financial Report

Gold has always been one of the most important hedge investments for Chinese people. However, with the change of consumption concept and the progressive of consumption class, the saying that "Chinese people love gold" has reached the end of desperation. Although the price of gold has been stable for some time, it seems that the gold industry is still at an end from the recent sales figures released by Zhou Dafu during the Spring Festival holiday.

During the lunar new year period from January 25, 2016 to February 14, 2016, Chow Tai Fook Enterprises Retail sales recorded a 29% decline, while same store sales fell 28% year-on-year. Among them, the mainland retail value dropped by 30% compared to the same period last year, while the same store sales fell 31%. This data is due to the increase in the number of outbound tourists during the Spring Festival, which led to holiday consumption outflow. Meanwhile, the slowdown in the economy and the recent stock market volatility as well as the low consumption of luxury goods encouraged the mainland's retail data to be less optimistic.

Last month's cause Gold price To stabilize and overestimate the market situation, Zhou Dafu and other old jewellery brands tried to restore the decline of the gold jewelry industry by promoting industry innovation, but because of the announcement of this financial report, it was a faint hope of some hope. Affected by bad news, Zhou Dafu fell 5.5% at noon, at HK $4.47.

What is the future of the gold jewelry industry? Zhou Dafu and so on. Jewelry brand It must be stressful.

On the contrary, the sales figures in Hongkong and Macao are not very good. Due to the continuous decline of mainland tourists in Hong Kong and the impact of the Mong Kok incident during the Spring Festival and the weak impact of the retail market, the retail value decreased by 23% compared with the same period last year, while the same store sales decreased by 22%. Last weekend, the Hongkong Tourism Industry Council revealed that during the Spring Festival, the mainland tour group plunged 70%, the largest decline of over 10. It also made Hongkong road a more serious shadow in the short-term Inner Mongolia.

Therefore, Zhou Dafu expects the four quarter retail environment will continue to be challenging, and sales performance is expected to deteriorate further than the three quarter. Zheng Jiachun, the group chairman, said he would assess the situation of the stores, and he did not rule out closing individual stores and reducing the surplus employees.