[Asia Economy Reporter Song Seung-yoon] Hansome posted solid earnings in the second quarter as both sales and operating profit increased due to the benefits of reopening (resumption of economic activities), following the first quarter.
Hansome announced on the 9th through a public disclosure that its consolidated sales for the second quarter of this year were tentatively estimated at 357.4 billion KRW, a 14.3% increase compared to the same period last year. Operating profit rose 16.8% to 27.4 billion KRW. Net profit decreased by 5.4% to 17.7 billion KRW.
Following the first quarter, Hansome continued its growth momentum in the second quarter by benefiting from the reopening. Offline sales increased by 15.2% compared to the same period last year, and online sales grew by 14.6%. In particular, the strong growth of the menswear brand contributed to the overall steady growth.
By sales composition, products accounted for 72.8%, merchandise 26.8%, and commissions 0.4%. By sales channel, offline accounted for 79.9%, online 19.7%, and others 0.4%. Especially, as reopening accelerated, demand for clothing expanded, and sales in the outdoor and sports categories showed strong performance, improving the operating environment in department stores.
A Hansome official explained, "Operating profit increased as both online and offline sales grew evenly," adding, "Operating profit also reflected costs from new business ventures such as the launch of 'Liquid Perfume Bar.'"
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