Lukfook Group (00590) announced retail sales performance for the fourth quarter of the fiscal year ending March 31, 2024. The Group's overall retail value for the fourth quarter of FY2024 (including its own stores, brand stores and e-commerce business) increased by 5% year-on-year and surpassed the same quarter level of FY2019 by more than 50%. Overall retail revenue (including self-operated stores and e-commerce businesses) increased by 12%, up more than 10% from FY2019. Excluding Hong Kong Resources Group's retail sales figures, the Group's overall retail value and retail revenue for the fourth quarter increased by 1% and 7%, respectively.
Retail revenue in the Hong Kong and Macau markets increased 10% year-on-year in the fourth quarter and surpassed the level of the fourth quarter of FY2019. Retail revenue in mainland China increased 7% year-on-year during the quarter and increased by more than 20% compared to FY2019.
The Group added 230 stores net this season, mainly due to the inclusion of a total of 218 stores under the Golden Supreme brand. If the Golden Supreme brand is excluded, the Group added 12 stores during the quarter.