Chinese jewelry retailer Chow Tai Fook (周大福) closed a net 240 stores in Mainland China in the second quarter of fiscal 2027, leaving 4,807 as of September, down 2,596 from its peak of 7,403. Retail sales value fell 0.5% YoY, with mainland China down 5.3%, while Hong Kong, Macau, and other markets grew 33.2%. On the mainland, same-store sales rose 2.2% at directly operated stores but fell 2.9% at franchises, while e-commerce grew 25.6%. Its luxury boutiques number 13, targeting 50 by fiscal 2030. First-half net profit is expected to rise approximately 90% to 100%, driven mainly by fair-value gains on gold loan contracts.

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