SEOUL (Reuters) - South Korea’s department store sales in September rose at the fastest pace in 11 months, trade ministry data showed on Sunday, as demand rose ahead of the annual Chuseok holiday.
Combined sales last month at department stores run by Hyundai Department Store, Lotte Shopping and Shinsegae Co climbed 4.9 percent in September from a year earlier, reversing a 0.8 percent decline in August.
September’s rise was the fastest since a 6.0 percent jump in October 2016.
Retail sales tend to rise as consumers ramp up purchases of gifts and food before the annual Chuseok holiday, which fell on the week of Oct. 2 to Oct. 8.
A breakdown showed sales of nearly all product categories at department stores increased in September, across food and apparel.
Reporting by Cynthia Kim; Editing by David Gregorio