Hong Kong-based jewelry retailer Chow Tai Fook recently published its main operating statistics for the first two months of 2020.
According to the report, the company's retail value decreased by 42% year-on-year in the Chinese mainland market and its retail value decreased by 60% year-on-year in Hong Kong and Macau. Meanwhile, its same store sales value in mainland China decreased by 49% and its same store sales volume in mainland China decreased by 52% compared with the same period of last year.
By product category, Chow Tai Fook's same store jewelry sales in Hong Kong and Macau saw a year-on-year decrease of 57% and its same store jewelry sales in mainland China saw a year-on-year decrease of 50%. Its gold product sales decreased by 61% in Hong Kong and Macau and its gold product sales decreased by 53% in mainland China.
Regarding Chow Tai Fook's e-commerce business in mainland China, its retail value decreased 24% year-on-year and its sales volume decreased 36% year-on-year.