Hyundai Department Store Q1 Operating Profit 65 Billion KRW... Up 336.3% YoY

[Asia Economy Reporter Yuri Kim] Hyundai Department Store announced that its operating profit for the first quarter of this year reached 65 billion KRW, a 336.3% increase compared to the same period last year. During the same period, sales rose 52.0% to 683.2 billion KRW, and net profit increased 133.8% to 55.8 billion KRW.

The company stated, "The department store division saw increases in both sales and operating profit due to the opening of new stores such as The Hyundai Seoul and Hyundai Premium Outlet Space1, as well as a recovery in consumption of fashion product categories." Regarding the duty-free division, sales increased and operating profit improved due to the opening of new stores (Dongdaemun branch, Incheon Airport branch) and a higher proportion of imported cosmetics sales.