S.Korea Feb dept, discount store sales seen slipping

Hyundai Department Store Co

09/03/2016 01:00

SEOUL, March 9 (Reuters) - Sales at South Korea's top 
department stores likely fell in February after a rebound in 
January, preliminary estimates from the finance ministry showed 
on Wednesday. 
    Combined sales at department stores run by Hyundai 
Department Store  069960.KS , Lotte Shopping  023530.KS  and 
Shinsegae Co  004170.LS  were estimated to have edged down 0.1 
percent in February from a year ago, the finance ministry said 
in a monthly report. 
    Discount store sales over the same period likely fell 5.4 
percent, the estimates suggested.  
    The finance ministry did not elaborate on the reasons for 
the declines. 
    Figures from the trade ministry, which will publish 
confirmed numbers and details later in the month, had shown 
department and discount store sales in January had jumped 9.0 
and 11.0 percent, respectively. 
    In its assessment of the current economy, the finance 
ministry said production overall had been weak while consumption 
had softened because of temporary issues. 
 
 (Reporting by Christine Kim; Editing by Eric Meijer) 
 ((christine.kim@thomsonreuters.com; 822 3704 5665; Reuters 
Messaging: christine.kim.thomsonreuters.com@reuters.net)) 
 
Keywords: SOUTHKOREA ECONOMY/RETAIL