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Report: Mainland Gold Retailers Net Close Nearly 1,000 Stores in 1Q26; CHOW TAI FOOK (01929.HK) Raises Bracelet Price by RMB15,000
2026-05-18 14:17:44 According to a report by 21 Finance, CHOW TAI FOOK (01929.HK) recently confirmed that it has initiated price increases for its fixed-price gold jewelry products, with hikes ranging from 5% to 20%. Staff at certain stores revealed that the bracelet with the largest increase was originally priced at RMB53,800 and has now been raised to RMB68,800, representing an increase of RMB15,000. Based on incomplete statistics from the publication, major listed gold jewelry brands recorded a sharp decline in store numbers in 1Q26. Among them, CHOW TAI FOOK (01929.HK) net closed 128 stores in Mainland China, with same-store sales plunging 30.9%. The company proactively shut nearly 900 stores for the full year of 2025. LFX (600612.SH) net closed 185 franchise stores, with both revenue and net profit declining. CHOW TAI SENG (002867.SZ) recorded a net closure of 286 stores in a single quarter, with revenue falling 26.9% YoY. YUYUAN (600655.SH), through its Lao Miao and Asia One brands, net closed 192 stores in 1Q26. CHINA NATIONAL GOLD (600916.SH) net closed 203 stores in 1Q26, proactively scaling back underperforming franchise outlets. (jl/da)~ AASTOCKS Financial News Website: www.aastocks.com This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. | |