Hyundai Department Store Reports Operating Profit of 320.9 Billion KRW Last Year, Up 21.4%

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Exterior view of The Hyundai Seoul (Photo by Hyundai Department Store).

Hyundai Department Store announced that its consolidated operating profit last year was 320.9 billion KRW, an increase of 21.4% compared to the previous year. During the same period, sales rose 40.4% to 5.0141 trillion KRW.

The operating profit for the fourth quarter of last year, including department stores, duty-free shops, and Jinus, was 68.6 billion KRW, down 27.2% year-on-year. Sales increased by 43.8% to 1.5824 trillion KRW.

The standalone operating profit of the department store in the fourth quarter of last year was 94.5 billion KRW, down 9.9% compared to the same period last year. The operating profit for the entire last year was 378.8 billion KRW, up 24.3%. Sales in the fourth quarter recorded 596.8 billion KRW, an increase of 5.3% year-on-year, and the total sales for the year amounted to 2.2896 trillion KRW, up 8.9% from the previous year.

The duty-free shop recorded an operating loss of 23.3 billion KRW in the fourth quarter of last year. The total operating loss for the year was 66.1 billion KRW. Sales in the fourth quarter increased by 24.0% to 704.4 billion KRW, and total sales for the year rose 41.8% to 2.2571 trillion KRW.