Able C&C Continues Q1 Loss Amid COVID-19 Impact
[Asia Economy Reporter Yujin Cho] Able C&C announced on the 15th that it recorded an operating loss of 12.2 billion KRW on a consolidated basis in the first quarter of this year, continuing the deficit compared to the same period last year.
During the same period, sales amounted to 83.5 billion KRW, and net loss was 9.5 billion KRW, with sales decreasing by 9% year-on-year and the net loss widening.
The company explained that the continued operating loss was due to "sales impact in offline and Chinese markets caused by the novel coronavirus disease (COVID-19)."
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It added, "To overcome the COVID-19 crisis, we opened the comprehensive cosmetics online mall MyNung.com last month and are striving to improve performance by newly launching O2O services."
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