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(LEAD) Shinsegae swings to black in Q2 on robust cosmetics, duty-free sales

All News 11:26 August 12, 2021

(ATTN: CHANGES headline, lead; UPDATES with more details throughout)

SEOUL, Aug. 12 (Yonhap) -- Shinsegae Inc. said Thursday it has swung to the black in the second quarter from a year earlier on robust sales of cosmetics and duty-free goods.

Its net profit stood at 16.6 billion won (US$14.3 million) in the April-June period, swinging from a net loss of 107.9 billion won a year earlier, the company said in a regulatory filing.

Sales in the April-June period jumped 37.6 percent on-year to 1.4 trillion won on a consolidated basis, the largest of all its second-quarter readings.

The company logged an operating income of 96.2 billion won in the second quarter, swinging from an operating loss of 48.6 billion won a year ago.

The logo of Shinsegae Inc. (PHOTO NOT FOR SALE) (Yonhap)


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