Weather Even Byeon Woo-seok Couldn't Stop... F&F's Operating Profit Down 18.3% Last Year

Decline in Both Sales and Operating Profit Last Year
Due to Weakened Consumer Sentiment and Warmer Weather

Due to weakened consumer sentiment and warmer-than-usual weather, fashion company F&F recorded poor sales and operating profit performance last year.

According to the Financial Supervisory Service's electronic disclosure system on the 7th, F&F's consolidated operating profit last year was 450.7 billion KRW, a provisional figure showing an 18.3% decrease compared to the previous year. During the same period, sales amounted to 1.896 trillion KRW, down 4.2% from the previous year.

In the fourth quarter of last year, consolidated operating profit was 120.4 billion KRW, a 16.4% decrease compared to the same period last year, and sales for the same period were 546.5 billion KRW, down 6.2% year-on-year.

An F&F representative explained, "Due to the seasonal nature of the fashion industry, quarterly performance differences occur."

They added, "Despite growth in key overseas markets such as China, annual sales slightly decreased compared to the previous year due to weakened domestic consumer sentiment and warmer weather than usual. In particular, as we accelerate the expansion of the Discovery brand in China, the high growth trend in overseas markets is expected to continue."