RAPAPORT... Chow Tai Fook's sales grew strongly in the first fiscalquarter due to stronger consumer sentiment in Hong Kong and increased tourismto the municipality from mainland China. Retail sales jumped 21% in Hong Kong and Macau in the threemonths ending June 30, while same-store sales - at branches open for at leastyear - surged 26%, the jeweler reported last week. Mainland retail salesincreased 11%, with same-store sales up 4%. Same-store sales only include shopsthat Chow Tai Fook operates itself, as opposed to franchises. "[The] Hong Kong and Macau market recorded...impressive growthduring the quarter, benefiting from...improving local consumer spending andreviving [tourism from the] mainland," the company said. Gem-set jewelry sales leaped 26% on a same-store basis inHong Kong and Macau, reflecting a higher volume and average sales price.Revenue from those products slipped 4% on the mainland, where gold demandaccounted for much of the overall growth. The average international price ofthe yellow metal rose 4% year on year during the quarter, driving a 31% salesincrease for that category in Hong Kong and Macau and an 11% rise in mainlandChina, the retailer explained. The group did not provide exact sales figures.Image: Eepfarshr