Luk Fook's Upbeat Guidance Is Better Than Expected -- Market Talk
Dow Jones
Jun 30
0856 GMT - Hong Kong jewelry retailer Luk Fook's FY 2026 guidance is a positive surprise, Citi analysts say in a note. The company expects double-digit same-store sales growth, beating the bank's estimates. The analysts also welcomed Luk Fook's plan to add 50 stores net in Mainland China and expand its footprint in overseas markets in FY 2026. Citi raises its FY 2026 and FY 2027 net profit forecasts on Luk Fook by 12% and 11%, respectively. Citi maintains its buy rating and raises the target price to HK$25.40 from HK$17.00. Shares closed 0.6% lower at HK$19.98. (megan.cheah@wsj.com)
(END) Dow Jones Newswires
June 30, 2025 04:56 ET (08:56 GMT)
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