Chow Tai Fook’s Q3 sales down 11%

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 Chow Tai Fook’s Q3 sales down 11%Low consumer buying and drop in mainland tourists impacted the overall retail sales at Chow Tai Fook in the three months closing December 31, 2015, reports say the said sales dropped 11 percent in its overall retail sales, while a year precious the drop was of 10 percent, as per reports.

In Hong Kong and Macau, sales dipped 20 percent and 6 percent in China. The same-store sales decreased 15 percent, in which Hong Kong and Macau witnessed a 23 percent drop and China a 6 percent drop.

The company is planning to close around 5-6 stores Hong Kong by fiscal year ending in March, due to decreased tourists and strong local currency, as per reports.



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