Hansome, Q2 Operating Profit of 5.8 Billion KRW... 78.8% Decrease YoY
Sales of 345.7 Billion KRW, Down 3.3% Compared to the Same Period Last Year
Hansome, a fashion specialist company under Hyundai Department Store Group, announced on the 7th that its consolidated operating profit for the second quarter of this year was tentatively estimated at 5.8 billion KRW, down 78.8% compared to the same period last year. Sales decreased by 3.3% year-on-year to 345.7 billion KRW, and net profit fell 51.5% to 8.6 billion KRW.
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A Hansome official explained, "Sales slightly declined due to a contraction in clothing consumption caused by increased travel demand following the endemic (periodic outbreak of infectious diseases)," adding, "Operating profit decreased due to increased investment costs related to launching new overseas brands and expanding sales networks."
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