International News
Chow Tai Fook reports a rebound in sales across its 6,000 outlets
Chow Tai Fook (CTF) reported a rebound in sales across its 6,000 outlets in the three months ending 30 September, following five consecutive quarters of decline. The surge in gold prices contributed to this recovery.
The company described its Q2 2026 results as a “significant turning point” for the business. Retail sales value (RSV) grew 4.1% for the quarter, after an average decline of over 18% in the previous five quarters.
The recovery was led by CTF’s 151 non-Mainland stores, primarily in Hong Kong and Macau, which posted RSV growth of 11.4%. Sales at its 5,663 Mainland China stores grew 3.0%.
Soaring gold prices boosted the average selling price of both gold jewellery and gold products sold by weight or at fixed prices. CTF’s signature collections maintained strong sales momentum, supporting the company’s ongoing brand transformation.
During the quarter, CTF also closed 300 underperforming stores. The company emphasized that its retail network strategy remains focused on sustaining market leadership and improving overall financial health by maximising store productivity.
International News
US Holiday Shopping Expected To Top $1 Trillion For The First Time: NRF
While Overall Buying Power Remains High, Ongoing Inflation and Rising Household Costs Mean Some Families Will Have To Watch Their Spending More Carefully Than Others
The National Retail Federation (NRF) predicts Americans will spend $1.01 trillion on holiday shopping in November and December. That is a 4.2% jump from $972 billion last year.
NRF said its forecast was based on economic modeling that incorporates consumer spending, employment, wages and historical retail sales data. It excludes automobile, gasoline and restaurant sales
Extra Hiring: To handle the surge in shoppers, stores plan to hire 325,000 to 375,000 temporary holiday workers.
Mixed Budget Impact: Higher gas prices and inflation could still strain some family budgets, affecting low- and high-income shoppers differently.
Retailers expect a strong shopping season because people continue to make holiday spending a priority.
Store owners are ready to attract shoppers by offering competitive prices, deals, and choices for every budget.
While overall buying power remains high, ongoing inflation and rising household costs mean some families will have to watch their spending more carefully than others.
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International News13 hours agoUS Holiday Shopping Expected To Top $1 Trillion For The First Time: NRF
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