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Luxury, foreign shoppers drive Shinsegae to record first half
['Kan Hyeong-Woo']
The korea Herald News Rss
The retail giant reported sales of 6.36 trillion won ($4.5 billion) for the January-to-June period, up 10.1 percent from a year earlier.
Operating profit jumped 75.7 percent to 365 billion won with both figures reaching record highs.
Sales to overseas visitors more than doubled from a year earlier to 580 billion won in the first half, up 120 percent.
Although second-quarter sales fell 10.3 percent to 542.6 billion won, operating profit rose to 33.3 billion won from a 1.5 billion won loss a year earlier.
“We will continue our efforts to improve management efficiency and specialization in the second half to create a momentum that will set us apart from competitors.”