Shinsegae reports 5.7 pct annual gain in sales for 2008

SEOUL, Jan. 22 (Yonhap) -- South Korea's leading retailer Shinsegae said Thursday
that annual sales for 2008 moved up 5.7 percent compared to the year before.

The company that controls department stores and a discount outlet chain said
sales reached 8.89 trillion won (US$6.45 billion) last year, with operating
profit and net income gaining 9.7 percent and 12.4 percent from the year before.
Operating profit reached 840.0 billion won, while net income was tallied at 562.7
billion won.
Shinsegae said the gain in numbers is due to a steady rise in demand for private
label brands controlled by the stores, while the operations of its Yeoju
logistics center 105 km west of Seoul have helped enhance operational efficiency.
yonngong@yna.co.kr
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