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Photo = New world |
[Alpha Biz= Paul Lee] The prolonged domestic economic slump has led to a decline in profitability for prominent domestic companies, including department stores and food firms, in the first quarter of this year.
On May 13, Shinsegae Co., Ltd. announced that for the first quarter of 2025, its consolidated total revenue reached 2.878 trillion KRW, with operating profit at 132.3 billion KRW. While revenue increased slightly by 2.1% compared to the same period last year, operating profit dropped by 18.8%, or 30.7 billion KRW.
Shinsegae Department Store reported total revenue of 1.7919 trillion KRW for the first quarter, a 0.5% decrease from the same period last year (1.8014 trillion KRW). Operating profit also decreased by 58 billion KRW, or 5.1%, to 107.9 billion KRW.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
