Sales at discount outlets, department stores down in September

By Lee Joon-seung
SEOUL, Oct. 16 (Yonhap) -- Sales at South Korea's major discount outlets and department stores declined in September, due to weak sales of groceries and durable goods, a government report said Thursday.

The combined sales of the nation's top three discount stores plummeted 9.2
percent year-on-year during the cited month, the sharpest dip since the 12
percent loss in October 2007, the Ministry of Knowledge Economy said.
It said warmer weather and earlier arrival of the Chuseok holidays compared to
the year before affected sales of clothing, miscellaneous goods and groceries.
Clothing fell 19 percent compared to the year before, with miscellaneous goods
dropping 13.5 percent.
Groceries that account for roughly half the sale of discount outlets dropped 8.2
percent
Chuseok, the three-day-long fall harvest holidays, fuels demand for clothing and
other goods that are exchanged as presents between family and friends.
For department stores, the ministry said sales dipped 0.3 percent on-year, as
people spent less on durables like electronics and household goods.
The drop is the first time that sales declined at department stores following a
2.2 percent decline in December, 2007.
The ministry, however, said luxury items grew 24.7 percent, while miscellaneous
goods gained 12.8 percent compared to the year before.
The monthly report is based on sales figures obtained from Lotte, Shinsegae and
Hyundai department stores, along with comparable figures from Lottemart, E-mart
and Homeplus discount stores. The report is used as one of the key indicators of
South Korea's current consumer sentiment.
yonngong@yna.co.kr
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