Lotte Shopping posted strong first-quarter growth this year, helped by solid department store performance and improved profitability at subsidiaries.
Lotte Shopping disclosed on the 11th that its preliminary first-quarter results came to 3.5816 trillion won in sales and 252.9 billion won in operating profit. Compared with a year earlier, sales rose 3.6% and operating profit increased 70.6%.
Net profit for the period was 143.9 billion won, up 694.1% from a year earlier.
Department stores led the earnings growth. First-quarter department store sales were 872.3 billion won, up 8.2% from a year earlier. The company boosted foot traffic at core flagship stores such as the main store and Jamsil, while foreign customer sales surged 92% year over year, underscoring competitiveness in its core business. In addition, major subsidiaries posted revenue-focused sales growth, supporting improvement in companywide results.
Profitability also stood out. First-quarter operating profit was 252.9 billion won, up 70.6% from the same period a year earlier. In particular, the department store institutional sector recorded 191.2 billion won in operating profit, boosted by strong sales of high-margin fashion goods and improved profitability in overseas operations. This was a 47.1% increase from a year earlier and served as a key pillar driving companywide profit expansion. Subsidiaries also contributed to larger profits by achieving a turnaround based on profit-centered management.
The domestic discount store institutional sector posted first-quarter sales of 1.0406 trillion won and operating profit of 8.8 billion won. Sales rose 2.2% from a year earlier, and operating profit grew 30.9%. Easing competition in the domestic discount store market and efficient promotion management improved the profit structure.
Overseas operations also delivered results. The overseas discount store institutional sector reported first-quarter sales of 485 billion won and operating profit of 25 billion won, up 3.4% and 16.8%, respectively. Lotte Mall Westlake Hanoi set a new quarterly record for operating profit, strengthening its foothold in the Southeast Asian market.
Among subsidiaries, Lotte Cultureworks swung to a quarterly operating profit thanks to hit releases. Lotte Homeshopping also expanded profit by reshaping its portfolio around high-margin products.
Im Jae-cheol, chief financial officer at Lotte Shopping, said, "In the first quarter of 2026, we were able to achieve remarkable results based on the solid performance of department stores and improved profitability at subsidiaries," adding, "We will continue to strengthen the fundamental competitiveness of our domestic operations and solidify sustainable growth drivers by expanding our overseas business."