Hyundai Department Store Q3 net income down 35.6% to $22.9 mil.
Hyundai Department Store on Wednesday reported its third-quarter net income of 30.7 billion won ($22.9 million), down 35.6 percent from a year earlier. Operating profit for the July-September period, on the other hand, stood at 94.6 billion won, up 30.1 percent from a year ago, the company, which operates high-end department stores, premium outlets, and online store and home interior brand…
Hyundai Department Store reported a third-quarter net income of 30.7 billion won ($22.9 million), marking a 35.6 percent decrease from the previous year. Despite this drop, the company's operating profit for the July-September period rose 30.1 percent to 94.6 billion won. Sales also saw an increase of 16 percent, reaching 1.17 trillion won, according to a regulatory filing reported by The Korea Times.
The company's earnings fell short of market expectations. The Korea Times noted that the average net profit estimate among analysts was 60.3 billion won, based on a survey by the financial data firm Yonhap Infomax. Hyundai Department Store operates premium outlets, high-end department stores, an online store, and the home interior brand Livart.
Brief written by urgent.news from The Korea Times, The Korea Times, Vietnam Investment Review — 3 reports on this story. Machine-written — may contain errors; check the original before relying on it.
Also reported by 1 other outlet
- Hyundai Department Store Q3 net income down 35.6% to $22.9 mil. koreatimes.co.kr
