Department store sales inch upward after two-year slump

By 원호정

Published : March 27, 2016 - 18:22

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Department stores saw rising sales early this year after two years of stagnant growth, according to department store data Sunday.

Hyundai Department Store announced that it had posted 4.6 percent on-year growth in sales over the first three months of the year, while Lotte Department Store‘s sales grew 4.2 percent on-year.

(123rf)

The unusual increase in sales in the early months is partly due to the late surge in winter fashion revenue brought on by a late winter, according to industry watchers.

Sales of female clothing and accessories grew by 10-12 percent on-year at Hyundai Department Stores, while fashion and accessories sales grew by nearly 20 percent on-year at Lotte branches.

Meanwhile, the three main department store chains -- Hyundai, Lotte and Shinsegae -- are gearing up for annual spring sales, set to begin simultaneously on March 31.

By Won Ho-jung (hjwon@heraldcorp.com)

Department store sales inch upward after two-year slump

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