Chow Sang Sang Reports Q3 Sales Growth
The jeweler observed a slowdown in sales across both its mainland Chinese and Hong Kong and Macau retail locations.
Updated on Oct. 16, 2026 in Jewelry
Live Poll
Do you feel consumer confidence in your area is getting worse compared to last year?
Chow Sang Sang reported 7 percent same-store sales growth in Hong Kong and Macau and 4 percent growth on the Chinese mainland during the third quarter of 2026. These figures represent a significant deceleration compared to the performance levels seen in the second quarter of 2026.
Why it matters
The company faced headwinds due to cautious consumer sentiment and volatility in gold prices, which weighed on retail performance. This trend reflects broader challenges currently impacting the jewelry sector in these regions.
As of the third quarter of 2026, Chow Sang Sang operated 638 stores on the Chinese mainland and 62 locations in Hong Kong and Macau. Retail turnover for the first half of 2026 exceeded HK$12.7 billion with HK$2.15 billion in profit.
The players
Chow Sang Sang
Chow Sang Sang is a prominent jewelry retailer that operates hundreds of stores across the Chinese mainland, Hong Kong, and Macau.
The details
The jewelry retailer released its performance data through the Hong Kong stock exchange to disclose its recent market deceleration. The mainland growth rate dropped 13 percentage points from the second quarter, while Hong Kong and Macau growth slowed to 7 percent from 30 percent in the same period.
Timeline
During Q3 2025, mainland growth was 15 percent and Hong Kong and Macau growth was 16 percent.
Retail turnover for the first half of 2026 reached over HK$12.7 billion.
During Q2 2026, the mainland growth rate was 17 percent and Hong Kong and Macau growth was 30 percent.
In Q3 2026, mainland growth was 4 percent while Hong Kong and Macau growth was 7 percent.
Culture Shift
The slowdown in jewelry demand reflects a broader trend of cautious consumer spending in the face of fluctuating commodity values. This shift indicates a move away from the high-growth environment the sector experienced during the previous year.
Shoppers may find that jewelry retail chains are adjusting inventory or pricing strategies in response to lower growth and commodity volatility. Customers should monitor store availability and potential price adjustments as retailers navigate these changing market conditions.
The takeaway
Retailers are currently balancing store expansion with shifting consumer demand driven by economic caution. Investors and shoppers alike should continue to observe how these businesses adapt to stabilize their growth metrics in the coming quarters.
Further reading
For broader trends in the industry, see the Jewelry section.
Source note: This article includes information reported by Macau Business.
Live Poll
Do you feel consumer confidence in your area is getting worse compared to last year?
