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Sales at discount outlets, department stores grow in Nov.

Sales at discount outlets, department stores grow in Nov.

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Published : 2013-12-26 09:28
Updated : 2013-12-26 09:28

Sales at South Korea’s major discount outlet chains and department stores grew last month from a year earlier, making a sharp turnaround from significant drops in the previous month, the government said Thursday.

Combined sales of the country’s three major discount outlet chains gained 1 percent from the same month last year in November, according to the Ministry of Trade, Industry and Energy.

The figure also marks a 6.2 percent rise from October when they posted an on-year drop of 6.4 percent. The three leading chains are Lotte Mart, E-Mart and Homeplus.

The ministry attributed part of the rise to growing sales of home appliances and cultural products, which gained 7.3 percent on-year.

The total number of purchases at discount outlets fell 3.3 percent on-year, but the average size of each purchase grew 4.4 percent, according to the ministry.

Sales at the country’s three major department store chains -- Hyundai, Shinsegae and Lotte -- rose 5.3 percent on-year, also marking a turnaround from a 2.2 percent on-year drop in the previous month.

The number of purchases at department stores went up 3.7 percent with the average size of each purchase also growing 1.6 percent.

Sales at convenience stores surged 10.8 percent on-year while sales at so-called super supermarkets slipped 2.8 percent. (Yonhap News)



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