E-Land Group announced on the 14th that its major institutional sectors, including fashion, distribution, and dining, showed favorable results in the second quarter of this year.
E-Land World reported that its consolidated operating profit for the second quarter of this year was 86 billion won, a 19% increase compared to the previous year. Sales during the same period rose by 6% to 1.4074 trillion won.
For the first half of the year, cumulative sales reached 2.7431 trillion won, and operating profit was 156 billion won, representing increases of 5% and 9%, respectively, compared to the same period last year.
While fashion brands achieved cumulative sales of 869 billion won in the first half of the year, the sales of New Balance and New Balance Kids in the sports sector increased by 13% and 20%, respectively. The sales of Spao in the manufacturing and distribution single-brand area grew by 10%, and Huayou's sales rose by 20%.
E-Land Eats, the dining business corporation, saw its sales in the first half of the year reach 276.4 billion won, a 29% increase from the previous year, with operating profit also increasing by about 50%.
E-Land Retail reported that the hypermarket sector, which includes Kims Club and Farm & Food, had first-half sales of 460.9 billion won, a 24% increase from the previous year. Operating profit during the same period increased by 71%. Notably, 'Deli by Ashley', which sells Ashley Queen's signature dishes in ready-to-eat food form, saw Kims Club channel sales increase by 224% compared to the previous year.
E-Land Retail plans to absorb E-Land Global and E-Land Kims Club next month, and will integrate the distribution, fashion, and hypermarket sectors into a single corporate structure, in order to strengthen and enhance efficiency within the organization.
An E-Land official noted, 'Despite challenging market conditions in the first half of the year, each institutional sector and brand within the group recorded steady growth, and our stable business portfolio and efficiency strategy have proven effective.' He added, 'We plan to focus on enhancing the core competitiveness of each institutional sector in the second half of the year.'