Hong Kong retail sales fell 14.6% in February, worse than expected

2022-06-12 0 By

Hong Kong retail stocks fell across the board, with Chow Sang Sang falling 3%, Chow Tai Fook 2%, And Tai Shing Group, Prada, Samsonite, And Lion Lion 1% lower, followed by Lufook Group and Liff International.Retail sales in Hong Kong fell 14.6% to HK $25.2 billion in February from a year earlier, disappointing expectations, according to the government’s Statistics Bureau.A government spokesman said the retail sector was expected to come under pressure in the short term due to a sharp drop in traffic and a weakening consumer sentiment due to the worsening of the local epidemic and tightening of quarantine measures.