More than 40 Hong Kong physical stories' leases will expire in the financial year 2021, or from April to March next year. The company currently has 86 Chow Tai Fook retail outlets and five stores under other brands in Hong Kong. The jeweler, controlled by the billionaire Cheng family, has seen same-store sales fall for three consecutive quarters in Hong Kong and Macau. Chow Tai Fook is now focused on mainland China, with plans to add 600 new stores in the year ending March 31. Shares of Chow Tai Fook rose 2.53 percent to HK$8.5 yesterday.

Source: The Standard January 14, 2020 19:07 UTC