April 18, 2024
Retail & Consumer
Department stores sales drop in June
[THE INVESTOR] Korean retailers saw their sales fall slightly this month, industry data showed on June 29.
Lotte Department Store, the country’s leading top-end retailer, said its sales fell 1.3 percent from a year earlier in the June 1-27 period.
Its rival Hyundai Department Store also saw its revenue from the same period slip 1.6 percent on-year, the retailer said, citing corporate data.
Industry watchers, meanwhile, said the situation should improve, as the new Moon Jae-in administration started to push forward measures to fuel economic growth. They said the start of the peak summer vacation season can further help sales.
By Alex Lee and newswires (alexlee@heraldcorp.com)
Lotte Department Store, the country’s leading top-end retailer, said its sales fell 1.3 percent from a year earlier in the June 1-27 period.
Its rival Hyundai Department Store also saw its revenue from the same period slip 1.6 percent on-year, the retailer said, citing corporate data.
Industry watchers, meanwhile, said the situation should improve, as the new Moon Jae-in administration started to push forward measures to fuel economic growth. They said the start of the peak summer vacation season can further help sales.
By Alex Lee and newswires (alexlee@heraldcorp.com)
