Hyundai department store shifts to loss in 2023
What: Hyundai has posted a net loss of $30.7m in 2023, vs. a profit of $139m last year.
Why it is important: Sales fell by -16,1% in a full year.
Hyundai Department Store Co. on Wednesday reported its 2023 net loss of 40.8 billion won (US$30.7 million), swinging from a profit of 186 billion won a year earlier.
The company said in a regulatory filing that it posted 303.5 billion won in operating profit for the year, compared with 320.9 billion from the previous year. Annual sales fell 16.1 percent to 4.2 trillion won.
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Indian retail sector logs 10% growth in August on stable consumer demand: RAI survey
Indian retail sector logs 10% growth in August on stable consumer demand: RAI survey
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