Tag: Lotte Shopping

Lotte Shopping

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The facade of Lotte Department Store in downtown Seoul is lit up in purple on March 19 ahead of BTS's concert in Gwanghwamun Square in central Seoul. [YONHAP]

Lotte Shopping posts eightfold jump in net profit in Q1

Lotte Shopping, an affiliate of Korean retail conglomerate Lotte Group, said Monday its net profit jumped nearly eightfold in the first quarter from a year earlier, driven by improved department store sales and solid overseas operations.

2026.5.11

Kim Sang-hyun, vice chairman and CEO of Lotte Retail Group, delivers a keynote speech at an Asia-Pacific Economic Cooperation (APEC) CEO Summit session titled ″Digital Transformation & Retail Efficiency,″ at Gyeongju Arts Center in Gyeongju, North Gyeongsang, on Oct. 29. [JOINT PRESS CORPS]

Retail leaders counting on AI to 'improve,' not replace, traditional in-store experience

Kim Sang-hyun, vice chairman and CEO of Lotte Retail Group, said Wednesday that digital transformation is reshaping the retail landscape across Asia — not as a way to replace physical stores, but to “reinvent and improve” them.

2025.10.29

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Lotte shuttering duty-free stores, event spaces as sales decline

Lotte is closing underperforming duty-free stores and event spaces to address financial issues. The company plans to restructure its operations and reduce costs across various subsidiaries as it navigates declining sales.

2024.11.29

Kim Sang-hyun, CEO of Lotte Shopping, presents the company's six future strategies during a CEO IR Day event on Tuesday. [LOTTE SHOPPING]

Lotte Shopping sets $12.8 billion sales target for 2026

Lotte Shopping has set the goal of recording 17 trillion won ($12.8 billion) in sales and 1 trillion won in operating profit by 2026.

2023.9.19

Lotte Department Store's main branch in the Jung District, central Seoul [LOTTE SHOPPING]

Lotte Shopping to ease financial plight with $378 million property sell-off

Lotte Shopping is selling off properties worth some 500 billion won ($378.8 million) amid growing financial and credit risks.

2023.8.24

Lotte Department Store's branch in Jung District, central Seoul. [LOTTE DEPARTMENT STORE]

Lotte Shopping net profit fell 16.4 percent on year in Q1

Lotte Shopping’s net profit fell 16.4 percent on year to 57.8 billion won ($43.4 million), below market consensus of a 52.3 billion won net profit compiled by FnGuide. The loss is due to a reduction in non-operating profit, which decreased...

2023.5.11

SU:M by Japanese architect Kengo Kuma [LOTTE SHOPPING]

Lotte Department Store to feature artwork from Japanese architect Kengo Kuma

Lotte Shopping said Wednesday it will exhibit an installation from renowned Japanese architect Kengo Kuma at its high-end department store in southern Seoul starting this week. The artwork, titled SU:M, will be on display at Lotte Avenuel, the...

2023.4.13

Lotte Shopping's net losses narrow in Q4 on increased sales

Lotte Shopping said Wednesday its net losses narrowed in the fourth quarter from a year earlier on improved profitability stemming from sales growth of all product categories. Net losses for the October-December period...

2023.2.8

Lotte Department Store’s branch in Jung District, central Seoul. [LOTTE SHOPPING]

Lotte Shopping sinks into red with net loss of 95.1 billion won in Q3

Lotte Shopping logged a significant net loss of 95.1 billion won ($67.1 million) in the third quarter, a major miss of the market expectations for a 56.6 billion won net profit complied by FnGuide.

2022.11.4

A board at a discount mart in Seoul shows the two closure dates of the store in August. [YONHAP]

Retailers joined by administration in opposing Sunday closures

The regulation that requires big retailers to close their stores for two days a month may be relaxed for the first time in ten years. On June 23, the presidential office started an online petition ...

2022.8.1