Beijing's corruption crackdown knocks growth prospects at jeweller

Beijing's crackdown on gift giving is making Emperor Watch & Jewellery more cautious about opening shops on the mainland this year as an anti-corruption campaign continues to take its toll on luxury sales across the border.

The high-end watch and jewellery retailer saw its shares fall 4.7 per cent to close at HK$0.81 yesterday after the company reported a 37 per cent slump in net profit to HK$404 million last year.

via Business feed http://www.scmp.com/business/companies/article/1195034/beijings-corruption-crackdown-knocks-growth-prospects-jeweller