SEOUL — Hyundai Department Store Co. reported a sustained loss into the fourth quarter of 2023, with a net loss amounting to 198.8 billion won ($149.8 million).
According to Yonhap News Agency, The company's regulatory filing highlighted an increase in operating income for the October-December period, which rose by 39.9 percent to 96 billion won from the previous year. Despite this improvement in operating income, sales significantly declined by 28.3 percent to 1.13 trillion won.
The continued financial losses during the quarter indicate ongoing struggles for Hyundai Department Store in navigating the retail sector's volatility and competitive pressures.