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S KOREAN DEPT STORES HIT CRISIS POINT.

AsiaPulse News

| October 01, 2003 | COPYRIGHT 2003 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

SEOUL, Oct 1 Asia Pulse - Department stores in South Korea have reported a decrease in sales for the eighth consecutive month because of poor consumer sentiment, business insiders said today.

Lotte Department Store, the nation's largest retail chain, had 5.7 per cent less sales in September than in the same period last year, more than double the 2.3 per cent decrease registered a month earlier.

Hyundai Department Store, Shinsegae Department Store and Galleria Department Store also reported a drop in sales last month compared with August.

Hyundai's sales fell 5.2 per cent in August and 8.6 per cent in September on a year-on-year basis. Sales by Shinsegae and Galleria dipped 3.6 per ...

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