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Thursday May 15, 7:25 AMSales at Korean Department Stores, Discount Outlets up in AprilSEOUL, May 15 Asia Pulse - Sales at South Korea's leading department stores and discount outlets moved up in April, buoyed by consumer demand for luxury goods and groceries, a government report showed Thursday.The report by the Ministry of Knowledge Economy said department store sales grew 6.5 per cent year-on-year last month, marking the fourth straight month of positive growth. Discount store sales edged up 0.1 per cent compared to the year before with a 1.9 per cent gain in grocery sales helping maintain upward momentum. In March discount store sales rose 2.8 per cent year-on-year. The report said miscellaneous and luxury goods sales at department stores jumped 10.8 per cent and 25.6 per cent respectively last month, with groceries reporting 9.7 per cent growth. Longer bargain sale events at department stores and a temporary holiday helped improve overall figures. April 9 was a temporary holiday in South Korea as people took time off to vote in parliamentary elections. For large discount outlets, demand fell sharply for sporting goods, electronic appliances, clothing and miscellaneous goods. Demand for sporting goods and electronic appliances were down 9.5 per cent and 3.7 per cent compared to the year before. The monthly report, based on sales figures from Lotte, Shinsegae and Hyundai department stores and E-mart, Lotte Mart, and Homeplus discount stores, is a key indicator of South Korea's consumer sentiment. (Yonhap) |
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