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Emart Sept. sales fall 7.2 pct on increased competition

All News 14:20 October 11, 2019

SEOUL, Oct. 11 (Yonhap) -- Emart, South Korea's largest discount store chain operator, said Friday its September sales fell 7.2 percent from a year earlier as more and more consumers opted to buy goods online.

On a parent base, Emart posted 1.355 trillion won (US$1.14 billion) in sales last month, down from 1.46 trillion won a year earlier, the company said in a regulatory filing.

The country's large discount store chains, such as Emart and Lotte Mart, are struggling with declining sales as customers increasingly choose to shop at online shopping malls over offline shops.

In the January-June period, Emart's net profit plunged to 43 billion won from 219 billion won in the year-ago period on a consolidated basis.


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