Shinsegae Duty Free Returns to Profit as Group Posts Record First-Half Earnings
4 Articles
4 Articles
(Seoul = Yonhap News) Reporter Cho Min-jung = Shinsegae recorded its highest-ever operating profit in the first half of this year, driven by strong performance in its department store business and improved profitability of its affiliates.
Shinsegae has released second-quarter results that exceeded market expectations. Sales of luxury goods and foreign customers at its department stores surged simultaneously, and the duty-free business, which had been a drag, turned profitable. On the 11th, Shinsegae announced that it recorded consolidated total sales of 3.1414 trillion won and an operating profit of 167.1 billion won in the second quarter of this year. Compared to the same period…
[Digital Daily Reporter Yoo Chae-ri] Shinsegae International announced on the 11th that it recorded preliminary consolidated results for the second quarter of this year, with sales of 291.6 billion won and an operating profit of 7 billion won. Compared to the same period last year, sales increased by 15.1%, and operating profit improved by 14.1 billion won, turning from an operating loss of 7.1 billion won in the second quarter of last year into…
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