Shinsegae sees small rise in sales
Shinsegae Co., the flagship of the country’s top retailer, Shinsegae Group, said yesterday its sales rose a mere 3.4 percent in the first half compared to a year earlier due to still-weak consumer demand.Revenue reached 4.1 trillion won ($4.4 billion) in the January to June period, the company said in a regulatory filing. Operating profit advanced 2.3 percent year-on-year to 351.9 billion won in the first half.
Shinsegae, a retail giant that owns discount outlets such as E-mart, said domestic consumer sentiment is still too weak to expect any big jump in sales.
Yonhap
with the Korea JoongAng Daily
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