Emart Remains in Red in Q4

Seoul: Emart Inc., South Korea's leading discount retailer, reported a fourth-quarter net loss of 116.3 billion won (US$79.9 million), remaining in the red compared with a year ago. The company made this announcement in a regulatory filing on Wednesday. According to Yonhap News Agency, Emart continued to post an operating loss of 9.9 billion won for the October-December period, compared with a loss of 77.1 billion won a year earlier. Despite the losses, the company saw a revenue increase of 0.9 percent, reaching 7.31 trillion won for the quarter.