April-June net income higher from year earlier

April-June net income was 60.8 billion won ($42.6 million) for 2026, up 11.7 percent from a year earlier.

Net income in the same period a year earlier was 54.5 billion won ($38.2 million).

Revenue was 1.07 trillion won ($748 million), down 1.1 percent from a year earlier, while operating profit fell 8.7 percent to 79.3 billion won ($55.5 million). The annual movements in revenue and operating profit contrasted with the increase in net income.

Compared with the preceding period, revenue rose 12.4 percent from 950 billion won ($665 million). Operating profit moved in the other direction, declining 19.7 percent from 98.8 billion won ($69.2 million) in the preceding period.

For the first six months of the year, revenue totalled 2.02 trillion won ($1.41 billion), a decline of 7.4 percent from a year earlier. Operating profit was 178 billion won ($125 million), down 10.7 percent, while net income fell 11.9 percent to 126 billion won ($88 million).

Most of the revenue in the reported figures is net revenue rather than gross sales to customers. Under Korean International Financial Reporting Standards (K-IFRS), commission fees are recognized as revenue, rather than the full value of customer sales.

The company's main businesses include department store and outlet operations, duty-free operations and furniture manufacturing. In the first quarter, its department-store segment reported revenue of 6325억원 and operating profit of 1358억원.

The duty-free segment recorded first-quarter revenue of 2137억원 and operating profit of 34억원. Furniture manufacturing generated revenue of 1396억원 but posted an operating loss of 301억원 in the first quarter.