Lufu Group: Sales In The First Quarter Decreased By 10% Compared With The Same Period Last Year, Adding 35 Stores In The Mainland.

During the reporting period, Lufu group added 35 shops to the mainland in the mainland. Among them, there are 37 additional brand stores and 2 self operated stores.

Lufu group announced that in the 3 months ended June 30, 2019 (the first quarter of fiscal year 2020), the total retail sales of the same group decreased by 10% compared with the same period last year, while the overall sales of gold products and jewellery products increased by -19% and +4% respectively.

In the first quarter of fiscal year 2020, the same store sales in mainland China increased by -7%, while the sales of gold products and jewellery products increased by -4% and -7% respectively.

The bulletin shows that the sales volume of the same brand stores in the mainland brand stores is growing at a low level. The same store sales of its gold products and jewellery products were low unit digit decline and low double-digit increase respectively.

During the reporting period, Lufu group added 35 shops to the mainland in the mainland. Among them, including the net increase of 37 brand stores and net reduction of 2 self operated stores. In June 30, 2019, there were 208 self operated shops in the group, including 139 in the mainland, 47 in Hongkong, 11 in Macao and 11 overseas. On the above date, together with 1651 mainland, 1 Kampuchea and 1 Philippines brand stores, the group has 1861 shops in the world, 1790 of which are located in the mainland.