Shinsegae Co. said on the 9th that last year it posted sales of 12.0077 trillion won and operating profit of 480 billion won. Sales rose 4.4% from a year earlier, and operating profit increased 0.6%.
Fourth-quarter sales last year were 3.4196 trillion won, up 7.3% from the same period a year earlier, and operating profit was 172.5 billion won, up 66.5%.
Fourth-quarter sales in the department store business rose 7.2% to 2.1535 trillion won. Over the same period, operating profit increased 18.6% to 143.3 billion won.
Cumulative annual department store sales rose 2.2% to 7.4037 trillion won. Annual operating profit increased 0.4% to 406.1 billion won.
A Shinsegae official said, "Steady space innovation, expansion of the House of Shinsegae IP, and attracting trendy pop-up stores led to solid growth."
By subsidiary, Shinsegae DF's fourth-quarter sales were 599.3 billion won, up 7.9% from a year earlier. It swung to an operating profit of 2 billion won.
Shinsegae Live Shopping's fourth-quarter sales fell 1.1% to 90.6 billion won, while operating profit increased 1.2 billion won to 6.1 billion won.
Over the same period, Shinsegae International posted sales of 344.3 billion won, up 5.6%, and an operating loss of 2.8 billion won. The result reflects the sale of the Jaju business unit, among other factors.
Shinsegae Casa's sales fell 7.0% to 62.6 billion won, and its operating loss was 2.9 billion won. Shinsegae Central's sales rose 13.2% to 109.9 billion won, and operating profit increased 6.5 billion won to 29.2 billion won.
Shinsegae plans to raise per-share dividends in line with its plan to enhance corporate value. It also plans to continue canceling treasury shares this year to bolster shareholder returns.