Department stores report growth in spring sales

Department stores report growth in spring sales

Korean department stores posted a surge in sales during the spring discount season, helped by revived sentiment from last year’s slump and spending by Chinese travelers, industry data showed Monday.

Major department stores held a series of discount events from late March to mid-April, attracting both domestic customers and Chinese nationals visiting the nation.

Lotte Department Store, the No. 1 department chain by Lotte Group, said its sales from March 31 to April 16 rose 4.5 percent from a year ago, thanks to a rise in sales of home appliances and furniture ahead of the spring wedding season.

Hyundai Department Store logged a 3.2 percent on-year spike during the seasonal bargain, while Shinsegae Department Store gained 7.8 percent from a year ago. They did not disclose the exact sales figures and the nationality of the customers.

“Although the sales figures did not grew significantly, they marked a high growth compared with a year ago,” a department store official said. “The consumer sentiment has been slowly recovering in April.”

Source:   http://www.koreaherald.com/view.php?ud=20160418000276

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