ID :
101055
Tue, 01/19/2010 - 06:32
Auther :
Shortlink :
https://www.oananews.org//node/101055
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Sales at discount outlets, department stores rise in Dec.
SEOUL, Jan. 19 (Yonhap) -- Sales at the nation's major discount outlets and department stores climbed in December as especially cold weather fueled demand for warm clothing, a government report showed Tuesday.
Total sales at the three leading discount outlets rose 3.9 percent on-year, a
turnaround from a minus 2.8 percent loss reported for the month before, the
Ministry of Knowledge Economy said.
Department store sales also shot up 12.5 percent compared to December 2008,
marking the 10th straight month of positive growth after a 0.3 percent dip
tallied for last February.
The ministry, which is in charge of industry and commerce, said sub-zero
temperatures caused people to buy more winter clothing and weather-related
miscellaneous goods last month. The steady economic recovery coming also prompted
consumers to increase spending, it said.
Clothing sales rose 9.5 percent on year, with miscellaneous and sporting goods
going up 12.3 percent and 9.4 percent, respectively. Groceries, which account for
roughly 50-60 percent of all sales at discount stores, declined 1.4 percent
year-on-year last month.
At department stores, sales of luxury goods gained 15.7 percent with demand for
miscellaneous goods and groceries gaining 12.9 percent and 9.9 percent,
respectively, from a year ago. Sales of clothing, sporting goods and home
appliances all increased, the report said.
For all of last year, sales at the three largest discount store chains dipped 1.2
percent compared to 2008, with on-year gains for department stores reaching 6.5
percent.
The annual decline in sales at discount outlets was attributed to the emergence
of large franchise supermarkets, or "hypermarkets," more on-line shopping and the
influenza-A scare, which caused people to opt for smaller stores with less
people.
The monthly report, based on sales figures from the Lotte, Shinsegae and Hyundai
department stores and the Lottemart, E-Mart and Homeplus discount stores, is a
key indicator of South Korea's consumer sentiment.
yonngong@yna.co.kr
(END)
Total sales at the three leading discount outlets rose 3.9 percent on-year, a
turnaround from a minus 2.8 percent loss reported for the month before, the
Ministry of Knowledge Economy said.
Department store sales also shot up 12.5 percent compared to December 2008,
marking the 10th straight month of positive growth after a 0.3 percent dip
tallied for last February.
The ministry, which is in charge of industry and commerce, said sub-zero
temperatures caused people to buy more winter clothing and weather-related
miscellaneous goods last month. The steady economic recovery coming also prompted
consumers to increase spending, it said.
Clothing sales rose 9.5 percent on year, with miscellaneous and sporting goods
going up 12.3 percent and 9.4 percent, respectively. Groceries, which account for
roughly 50-60 percent of all sales at discount stores, declined 1.4 percent
year-on-year last month.
At department stores, sales of luxury goods gained 15.7 percent with demand for
miscellaneous goods and groceries gaining 12.9 percent and 9.9 percent,
respectively, from a year ago. Sales of clothing, sporting goods and home
appliances all increased, the report said.
For all of last year, sales at the three largest discount store chains dipped 1.2
percent compared to 2008, with on-year gains for department stores reaching 6.5
percent.
The annual decline in sales at discount outlets was attributed to the emergence
of large franchise supermarkets, or "hypermarkets," more on-line shopping and the
influenza-A scare, which caused people to opt for smaller stores with less
people.
The monthly report, based on sales figures from the Lotte, Shinsegae and Hyundai
department stores and the Lottemart, E-Mart and Homeplus discount stores, is a
key indicator of South Korea's consumer sentiment.
yonngong@yna.co.kr
(END)
