Hyundai Department Store shifts to loss in 2023

SEOUL, Hyundai Department Store Co. on Wednesday reported its 2023 net loss of 40.8 billion won (US$30.7 million), swinging from a profit of 186 billion won a year earlier. The company said in a regulatory filing that it posted 303.5 billion won in operating profit for the year, compared with 320.9 billion from the previous year. Annual sales fell 16.1 percent to 4.2 trillion won. Source: Yonhap News Agency