Retail, food giants report profit declines amid market weakness - MK빌리어드

Retail, food giants report profit declines amid market weakness

최초입력 2025.05.14 11:31:07

(Shinsegae)

Major Korean retail and food companies reliant on domestic markets posted sluggish first-quarter 2025 earnings amid a prolonged market slowdown.
According to regulatory filings on Tuesday, Shinsegae Inc. reported sales of 2.88 trillion won ($2.04 billion) and operating profit of 132.3 billion won for the first quarter of the year. Sales rose 2.1 percent from a year earlier, but operating profit declined by 30.7 billion won, or 18.8 percent. Shinsegae Department Store posted sales of 1.79 trillion won, down 0.5 percent from 1.8 trillion won a year ago, with operating profit dropping 5.1 percent, or 5.8 billion won, to 107.9 billion won.
For its part, CJ Cheiljedang Corp. recorded sales of 7.21 trillion won, down 0.1 percent, and operating profit of 333.2 billion won, a decline of 11.4 percent.
CJ Logistics Corp. reported weaker profitability as the consumption slump and costs from its new seven-day delivery service weighed on results. Sales rose 2.4 percent to 2.99 trillion won, while operating profit fell 21.9 percent to 85.4 billion won.
NHN Corp. posted sales of 600.1 billion won, down 0.7 percent year-on-year, while operating profit edged up 1.3 percent to 27.6 billion won. Sales from its game division fell 1.9 percent to 119.6 billion won.
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