Lotte Shopping Co., Ltd. Reports Consolidated Earnings Results for the First Quarter of 2019
May 09, 2019 at 04:00 am EDT
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Lotte Shopping Co., Ltd. reported consolidated earnings results for the first quarter of 2019. For the quarter, the company reported consolidated revenue was KRW 4.4 trillion, indicating 2.6% year-over-year increase. Operating profit was KRW 205 billion, indicating a 7.1% Y-o-Y decline. Net profit was KRW 109 billion in the first quarter of 2019, which includes increased interest expense regarding application of new lease accounting standards.
Lotte Shopping Co Ltd is a Korea-based company mainly engaged in the operation of department stores. The Company operates its business through six segments. The Department Store segment is involved of the installation and operation of department stores such as Lotte Depart Store. The Company operates its department stores within the domestic market and to overseas markets, including Vietnam, Russia, Indonesia and China. The Discount Store segment is involved of the installation and operation of discount stores. The Electronics Store segment is engaged in the sale of home appliances and computers and communication devices. The Super segment is engaged in the operation of supermarkets and the rental of real estate. The Home Shopping segment mainly engages in home shopping and e-commerce business through Internet shopping mall and mobile. The Other segment engages in the businesses including the sale of cosmetics, food and other consumer goods, the operation of movie theaters and others.