"Subsidiary Slump and Transmission Fee Burden" NS Shopping Reports Operating Loss of 8.5 Billion KRW in Q3... Returns to Deficit
[Asia Economy Reporter Yuri Kim] NS Shopping, which operates NS Home Shopping, announced on the 14th that its consolidated operating loss for the third quarter of this year turned to a deficit of 8.5 billion KRW. During the same period, sales increased by 4.21% compared to the same period last year, reaching 153.6 billion KRW. The net loss for the period widened to 15.8 billion KRW.
It is analyzed that the increase in transmission fees and poor performance of subsidiaries had a significant impact. In the third quarter of last year, NS Shopping recorded an operating profit of 3.1 billion KRW.
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NS Shopping explained, "On a consolidated basis, the subsidiary businesses have not yet reached their full stride, resulting in a deficit due to poor performance," and added, "On an individual basis, operating profit decreased due to increased costs such as the rise in transmission fees."
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