Lotte Shopping Q1 Operating Profit 112.5 Billion KRW... Up 63.7% YoY

Lotte Shopping announced on the 11th that its operating profit for the first quarter of this year increased by 63.7% year-on-year to 112.5 billion KRW. During the same period, sales decreased by 5.5% to 3.5616 trillion KRW. Net profit for the period was 57.8 billion KRW, down 16.4% compared to the same period last year.

The company stated, "Operating profit and sales improved mainly in department stores, marts, and e-commerce," adding, "Due to the sluggish home appliance market and the suspension of early morning broadcasts, both sales and operating profit decreased for Hi-Mart and home shopping."