Hyundai Department Store announced on the 6th that its second-quarter performance for this year is provisionally calculated at sales of 1.08 trillion won and operating profit of 86.9 billion won. These figures represent an increase of 5.5% in sales and 102.8% in operating profit compared to the same period last year.
During the same period, net income turned to a profit of 54.5 billion won, compared to a net loss of 145.4 billion won in the second quarter of last year.
Sales and operating profit in the institutional sector for the second quarter were recorded at 590.1 billion won and 69.3 billion won, respectively, a decrease of 3.6% and 2.3% compared to the same period last year.
The institutional sector for duty-free shops recorded sales of 293.5 billion won and an operating loss of 1.3 billion won. Sales increased by 22% compared to the same period last year, while the scale of the deficit decreased by 2.6 billion won.
The subsidiary ZINUS reported sales of 229.5 billion won, an 11.2% increase from the same period last year. It recorded an operating profit of 29.1 billion won, marking a return to profit.
Hyundai Department Store stated, "With the government's active stimulus policies improving consumer sentiment, a recovery in department store performance, particularly in fashion categories, is expected to begin in earnest," and added, "In the duty-free sector, efforts to enhance store efficiency are underway, and a return to profit is becoming visible in the second half of the year."
It further noted, "ZINUS has alleviated tariff risks and uncertainties with the conclusion of reciprocal tariff negotiations in Indonesia."