Emart announced on the 11th that its consolidated operating profit for the first quarter of this year was 13.7 billion KRW, a decrease of 60.4% compared to the same period last year. Sales during the same period increased by 1.9% to 7.1354 trillion KRW. Net profit fell by 99.7% to 2.7 billion KRW.
The main reasons for the decline in operating profit were analyzed as the base effect following high growth during the COVID-19 period and increased shopping basket burdens due to the recession. Additionally, the number of holidays in the first quarter of this year decreased by three days compared to the previous year, and major renovation construction at the Yeonsu and Kintex stores caused sales gaps, which also had an impact.
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