Handsome's Q1 Operating Profit Down 32.9%... "Impact of Abnormal Weather"

First Quarter Revenue at 380.3 Billion Won
Down 3.4% Year-on-Year

Due to abnormal weather conditions, demand for transitional season products declined, leading to weak first-quarter results for Handsome this year.

On May 7, Handsome announced in a regulatory filing that its consolidated operating profit for the first quarter of this year was provisionally tallied at 21.8 billion won, a decrease of 32.9% compared to the same period last year. During the same period, revenue fell by 3.4% year-on-year to 380.3 billion won. Net profit for the quarter was 18.4 billion won, down 22.4% from the previous year.

By sales channel, both online and offline sales declined. Offline sales dropped by 3.7% year-on-year, while online sales fell by 1.4%. In the first quarter, Handsome's sales channel breakdown was 77.0% offline, 22.7% online, and 0.3% other.

A Handsome official explained, "Sales and operating profit decreased due to a prolonged contraction in consumer sentiment caused by growing domestic and international uncertainties, as well as reduced demand for transitional season products resulting from abnormal weather conditions."

This content was produced with the assistance of AI translation services.