"Growth in Both Online and Offline" Hansome Reports Q1 Operating Profit of 59.1 Billion KRW, Up 30.7% YoY

[Asia Economy Reporter Eunmo Koo] As social distancing measures have been lifted and expectations for the resumption of economic activities have grown, Hansome posted strong performance in the first quarter of this year.

Hansome announced on the 9th that its consolidated operating profit for the first quarter of this year was tentatively estimated at 59.1 billion KRW, a 30.7% increase compared to the same period last year. The company explained, "The expansion of online sales contributed to the increase in operating profit."

During the same period, sales increased by 17.4% to 391.5 billion KRW, and net profit also rose by 31.5% to 42.8 billion KRW. Strong sales growth continued centered on domestic women's character brands, menswear, and high-end imported select brands. Compared to the first quarter of last year, offline sales grew by 15.9%, and online sales grew by 24.9%.

In the first quarter, Hansome's sales distribution by channel was 77.3% offline, 22.4% online, and 0.3% others.

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