Chow Tai Fook Jewellery posts strong Q2 sales rebound

Chow Tai Fook Jewellery Group Limited announced unaudited key operational data for the three months ended September 30, 2025, revealing a 4.1% increase in overall retail sales value (RSV) growth. Mainland China contributed 86.9% to Group RSV with 3.0% growth, while Hong Kong, Macau, and other markets saw an 11.4% increase, contributing 13.1%. Same store sales (SSS) growth was positive, with mainland China self-operated stores increasing by 7.6% and Hong Kong and Macau by 6.2%. SSS volume, however, saw a decline of 8.6% in mainland China and 10.0% in Hong Kong and Macau.

The company's product categories showed varied performance. SSS growth for gem-set, platinum, and K-gold jewellery was 7.2% in mainland China and 5.2% in Hong Kong and Macau. Gold jewellery and products experienced higher SSS growth, reaching 10.6% in mainland China and 10.4% in Hong Kong and Macau. The average selling price (ASP) for gold jewellery and products in mainland China increased to HK$7,900 (up from HK$6,400 in Q2 fiscal year 2025), and in Hong Kong and Macau, it expanded to HK$11,700 (up from HK$9,400 in Q2 fiscal year 2025).

E-commerce in mainland China maintained strong momentum, growing 28.1% year-on-year, contributing 6.7% to RSV and 15.5% to volume. The Group continued to optimize its retail network, resulting in a net closure of 300 Chow Tai Fook Jewellery points of sale in mainland China and a net opening of 2 points of sale in Hong Kong and Macau during the quarter.