SEOUL, Nov. 6 (Korea Bizwire) — Lotte Shopping Co. said Friday it swung to a net profit in the third quarter on robust performance in its non-department store business amid the new coronavirus outbreak. Net income reached 3 billion won (US$2.7 million) in the July-September period, a turnaround from a net loss of 23.3 billion [...]
SEOUL, Nov. 5 (Korea Bizwire) — British American Tobacco (BAT) Korea said Thursday it will increase the ratio of non-combustible cigarette products to 50 percent by 2030 to boost sales amid regulations and health concerns over smoking. The British tobacco company has sold the heat-not-burn glo tobacco heating product (THP) series in the Korean market [...]
SEJONG, Oct. 30 (Korea Bizwire) — Sales of cigarettes in South Korea rose 5.6 percent on-year in the first nine months of this year, data showed Friday, thanks to robust sales of traditional cigarettes. South Korean smokers purchased 2.75 billion 20-cigarette packs in the January-September period, compared with 2.6 billion packs in the same period [...]
SEOUL, Oct. 29 (Korea Bizwire) — Starbucks Korea’s ‘I’ll Be Bag,’ a cooling bag specially designed by the coffee chain and SSG.COM for early morning deliveries, is becoming the next ‘Summer Ready Bag’ as it continues to gain popularity. SSG.COM, integrated online shopping mall operated by retail giant Shinsegae Group, began giving out cooling bags [...]
SEOUL, Oct. 28 (Korea Bizwire) — South Korean cosmetics giant AmorePacific Corp. opened a so-called ‘refill station’ for the first time in the nation’s cosmetics industry. The company announced on Tuesday that it decided to run a refill station within the AmorePacific Gwanggyo store that opened last week in Suwon, Gyeonggi Province. Customers take an [...]
SEOUL, Oct. 25 (Korea Bizwire) — Retail sales in South Korea advanced 8.5 percent in September from a year earlier as online shops enjoyed brisk sales amid the new coronavirus pandemic, data showed Sunday. The combined sales of 26 major offline and online retailers reached 11.9 trillion won (US$10 billion) last month, up from 11.16 [...]
SEOUL, Oct. 20 (Korea Bizwire) — LG Household & Health Care Ltd. is estimated to have outperformed industry leader Amorepacific in the third quarter, thanks to a robust growth in the non-cosmetics business, a poll showed Tuesday. South Korea’s No. 2 cosmetics company is projected to have logged an operating profit of 320.9 billion won [...]
SEOUL, Oct. 19 (Korea Bizwire) — Combined sales by South Korea’s retail giants are estimated to have declined more than 2 trillion won (US$1.75 billion) on-year in the first nine months of this year on the fallout of the COVID-19 pandemic, a poll showed Monday. Industry leader Lotte Shopping and its rivals Shinsegae and Hyundai [...]
SEOUL, Oct. 12 (Korea Bizwire) – Amid the increase in the number of consumers who refrain from going far away from their homes due to the spread of the COVID-19 pandemic, a variety of convenient services offered by convenience stores are gaining growing popularity. Convenience store chain CU saw the use of its parcel delivery [...]
SEOUL, Oct. 4 (Korea Bizwire) — Major local department stores have renovated their outlets in bustling areas and realigned sales sections in an effort to attract a new clan of young customers amid faltering sales hit by the new coronavirus outbreak, industry sources said Sunday. Industry leader Lotte Department Store and its main rivals Shinsegae [...]