Shinsegae Extends Department Store Lead with Q3 Sales and Operating Profit Growth
Creatrip Team
4 months ago
Shinsegae Co. reported improved third-quarter results, with consolidated operating profit rising 7.3% year-on-year to 99.8 billion KRW and total sales up 3.9% to 2.8143 trillion KRW. The department store division saw sales increase modestly as Shinsegae invests in store renewals and new businesses to strengthen its competitive gap, including an upcoming luxury relaunch of “The Reserve” (former main building) to match its flagship Gangnam store. Subsidiaries largely performed well: Shinsegae International boosted sales through imported fashion and cosmetics, though it posted a small operating loss due to domestic fashion weakness and global cosmetic investments; duty-free operator Shinsegae DF cut its losses as passenger traffic recovered; and lifestyle and shopping units like Shinsegae LiveShopping and Central improved profits. Some units faced challenges—Shinsegae Casa saw lower sales and wider losses amid a weak construction market—but plans such as premium product launches aim to reverse trends. The company says continued strategic investment and store upgrades are delivering visible results and will support future growth.
