"Recovering" Chow Tai Fook Reports Dip in Sales

(IDEX Online) - Chow Tai Fook (CTF) reported a slight dip in year-on -year sales for the three months to 31 March, after a surge the previous quarter raised hopes a sustained recovery.

China's biggest jewelry retailer (by store count, 5,460) blamed "heightened external uncertainties" and unprecedented volatility in gold price.

Its headline RSV figure (retail sales value, reflecting full retail prices) dipped by 1.5% in the latest quarter, Q4 2026.

It follows on from a 17.8% increase in Q3, the biggest quarterly increase since the company's 46% post-pandemic rebound in Q3 2024.

RSV in Hong Kong and Macao of China and other markets (155 stores) was up by 58% during Q4 2026, while it fell by just over 8% in Mainland China.

Same store sales on the mainland were virtually unchanged, up 0.2%, while stores in Hong Kong and Macao saw an increase of over 40%, driven by positive consumption sentiment and strong customer traffic.