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<Research>Citi Expects LUK FOOK HOLD (00590.HK) to Have Positive LNY Sales Outlook; Rating Buy
Recommend 1 Positive 7 Negative 5 |
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LUK FOOK HOLD (00590.HK) experienced a strong same-store sales growth in 3FQ26 ended December 2025, with a 31% increase in mainland China franchise stores and a 16% increase in Hong Kong, Macau and overseas markets, in line with Citi Research's expectations, Citi Research issued a research report saying. Although the same-store sales growth for mainland China self-operated stores was 7%, which was below expectations, these stores only accounted for about 10% of the Group's revenue, with limited impact. Furthermore, the Group's same-store sales growth from 1-7 January outperformed that of 3FQ26, better than the broker's forecast, which suggested a favorable outlook for the upcoming Lunar New Year (LNY) sales season. Given the significant acceleration in fixed-price gold product growth, Citi Research believed that profit margins will also be positively impacted, and expected similar trends including acceleration in same-store sales growth and profit margin improvement. Therefore, the broker rated LUK FOOK HOLD at Buy, with a target price of $35.2. AASTOCKS Financial News Website: www.aastocks.com |
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