Shinsegae posts record Q1 earnings on strong luxury, tourist demand

Shinsegae has recorded its strongest-ever first-quarter earnings on the back of strong sales and balanced growth across all of its businesses, the Korean retail giant said Tuesday. According to Shinsegae, it posted 3.21 trillion won ($2.16 billion) in sales and 197.8 billion won in operating profit in the January to March period this year, up 11.7 percent and 49.5 percent, respectively, year over year. Shinsegae’s department store business posted record earnings, too: 2.03 trillion won in sales

By The Korea Herald