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S.Korea Feb dept, discount store sales seen slipping
March 9, 2016 / 1:00 AM / in 2 years

S.Korea Feb dept, discount store sales seen slipping

SEOUL, March 9 (Reuters) - Sales at South Korea’s top department stores likely fell in February after a rebound in January, preliminary estimates from the finance ministry showed on Wednesday.

Combined sales at department stores run by Hyundai Department Store, Lotte Shopping and Shinsegae Co were estimated to have edged down 0.1 percent in February from a year ago, the finance ministry said in a monthly report.

Discount store sales over the same period likely fell 5.4 percent, the estimates suggested.

The finance ministry did not elaborate on the reasons for the declines.

Figures from the trade ministry, which will publish confirmed numbers and details later in the month, had shown department and discount store sales in January had jumped 9.0 and 11.0 percent, respectively.

In its assessment of the current economy, the finance ministry said production overall had been weak while consumption had softened because of temporary issues. (Reporting by Christine Kim; Editing by Eric Meijer)

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