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S.Korea dept stores report jump in Aug sales-media
Reuters - Wednesday, September 2
SEOUL, Sept 2 - Sales at South Korea's top three department stores in August rose by almost double the annual pace set in July, fresh evidence of a recovering domestic demand, a domestic newspaper reported on Wednesday.
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Sales at stores run by Lotte Shopping Co Ltd <023530.KS>, Shinsegae Co Ltd <004170.KS> and Hyundai Department Store Co Ltd <069960.KS> rose between 7.0 percent and 9.7 percent in August from a year before, the Maeil Business Newspaper reported.
Official figures from the government showed sales at these department store chain operators rose 4.0 percent in July over a year earlier, which marked a fifth consecutive month of annual sales growth.
Maeil said the figures were based on data obtained from the companies.
The government is due to release official figures later.
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