Gradual Performance Improvement Expected Due to Year-End Performance Peak Season and Year-End Shopping Season Effect
[Asia Economy Reporter Kim Cheol-hyun] Interpark announced on the 6th that its consolidated sales for the third quarter of this year amounted to 802.1 billion KRW, a 2% decrease compared to the same period last year, and recorded an operating loss of 6.1 billion KRW. On a separate basis, sales were 79.1 billion KRW and operating loss was 10.1 billion KRW, respectively.
The third quarter was the period most affected by the novel coronavirus disease (COVID-19) , and as the severe downturn in the domestic travel and performance industries prolonged, Interpark, which has a high proportion of tour, musical, performance, and concert businesses, inevitably experienced poor performance.
However, through cost-cutting efforts and efficient marketing execution, compared to the pre-merger Interpark performance, the loss margin was reduced by 2.5 billion KRW from the previous quarter. Additionally, due to the expansion of non-face-to-face and online consumption caused by COVID-19, the shopping and book businesses maintained a relatively stable sales trend.
An Interpark official stated, "Interpark is responding to the revitalizing domestic travel demand while preparing for the normalization of the overseas travel market in the future. Along with the recovery of the musical, concert, and performance markets, we are continuously preparing for the post-COVID era focusing on untact shopping." He added, "The fourth quarter is a period when year-end shopping effects are concentrated and the peak season for performances, so we can expect even greater profitability improvement than this quarter."
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