Recently, Chow Tai Fook announced as of June 30, 2016 3 months of unaudited main business data, performance was bleak. Mainland retail sales fell 13% year on year beads online cheap, with same-store sales growth of -17%, while the Hong Kong and Macao region fell.
In China, Chow Tai Fook’s name can be described as a household name. Last year, the international consulting firm Deloitte released the “Global Luxury Report 2015”, according to the income of the world’s top 100 luxury goods companies to do a ranking, Chow Tai Fook to 9.979 billion yuan in annual sales ranked fourth cheap Alphabet & Number Charms.
Chow Tai Fook released 2016 fiscal year results show that as of March 31, 2016, Chow Tai Fook revenue 565.915 billion Hong Kong dollars, down 12%; net profit of 2.9414 billion Hong Kong dollars, down 46.1%. Chow Tai Fook profit serious losses, in addition to the appreciation of the dollar, Hong Kong retail market weakness, the mainland tourists fell sharply is also an important reason pandora birthstone charms.
Chow Tai Fook’s share price has fallen for the past two years due to both falling earnings and profits. The current total market value has been more than the 2014 high point damage more than 90 billion Hong Kong dollars, the largest decline of more than 7 percent.
One of the results of the loss is that the store closes. As of the end of September 2015, Chow Tai Fook closed 115 retail outlets, equivalent to about 5% of total retail outlets, as of the end of March 2016, Chow Tai Fook charms compatible with pandora in the Mainland a total of 2057 jewelry retail outlets.
In recent years, the jewelry industry continue to encounter Waterloo, performance bleak, many brands have closed the store, and some even collapse. Chow Tai Fook Annual Report shows that “the number of closed stores is higher than the average in the past, is due to weak consumption, intense market competition and the impact of e-commerce, is increasingly squeezing the jeweler’s profit margins basic pandora bracelet.
With the development of the Internet economy, traditional enterprises have to make a transformation. And more and more department stores in mainland China to reorganize the industry to adapt to the changes in the retail consumer preferences; network sales diverted some consumers, into the store flow down pandora france. Only do online and offline business, traditional enterprises have a way out.