Chow Tai Fook Shares Hit Month-Low as Profit to Miss EstimatesBy
Jewelry retailer’s fiscal 2016 earnings to drop 40%-50%
Profit decrease due to weak Chinese demand and gold hedge loss
Chow Tai Fook Jewellery Group Ltd.’s shares fell to the lowest in a month after it said full-year profit fell as much as 50 percent as weak Chinese consumer demand undercut revenue and the world’s largest jewelry retailer posted hedging losses on gold loans.
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