Lotte Hi-Mart Reports Operating Profit of 7.8 Billion KRW in Q2... 'Turned to Black'
Compared to the same period last year, a 3016% increase
Sales revenue 679.7 billion KRW · Net profit 2.2 billion KRW
Lotte Hi-Mart announced on the 18th that its consolidated operating profit for the second quarter of this year reached 7.8 billion KRW, turning profitable compared to the first quarter. This figure represents a 3016% increase compared to the same period last year (300 million KRW).
Sales increased by 8.6% from the previous quarter to 679.7 billion KRW. Net profit also turned positive at 2.2 billion KRW. Lotte Hi-Mart explained that this was the result of focusing on improving profitability through structural reform efforts.
Lotte Hi-Mart carried out structural reform efforts across all business areas this year, including product management. A Lotte Hi-Mart official stated, "We established a new product management system, improved the new product introduction and ordering processes, and reduced inventory value in the second quarter by about 27% compared to the same period last year."
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For sustainable growth going forward, Lotte Hi-Mart plans to implement mid- to long-term strategies. The main points include store renovations to strengthen offline competitiveness and expanding the 'Home Total Care Service.' Additionally, the company plans to focus on differentiating content through online and offline integration.
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