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Jewellery retailer Luk Fook Holdings said that the Hong Kong and Macau market has continued its recovery momentum since the borders amongst Hong Kong, Macau and Mainland was fully reopened in the fourth quarter of fiscal 2023.
Together with the low base effect, the company’s retailing business delivered excellent performance in the first quarter of fiscal 2024, with an overall same-store-sales growth 62% year over year.
The overall retail sales grew by 24% on the year, up nearly 40% from the same period in the fiscal year of 2019.