Sales at discount outlets, department stores up in August

By Lee Joon-seung
SEOUL, Sept. 22 (Yonhap) -- Sales at South Korea's major discount outlets and department stores posted their second consecutive month of annual growth in August, fueled by demand for groceries and luxury goods, a government report said Monday.

The combined sales of the nation's top three discount stores edged up 1.1 percent
year-on-year during the cited month as interest in the Beijing Olympics triggered
demand for sporting goods, the Ministry of Knowledge Economy said.
It added that 6.9 percent gains in groceries, which make up roughly half of all
sales at discount outlets, contributed to the gains.
The ministry said that while sales picked up on an annual basis, they fell from
the 2.1 percent gain reported in July, largely due to the drop in purchases of
summer appliances like air conditioners and fans.
For department stores, the ministry said sales jumped 14.0 percent, fueled by
demand for luxury items, miscellaneous products and sporting goods.
The ministry said luxury items led growth by gaining 38.7 percent compared to the
year before.
The monthly report is based on sales figures obtained from Lotte, Shinsegae and
Hyundai department stores, along with comparable figures from Lottemart, E-mart
and Homeplus discount stores. The report is used as one of the key indicators of
South Korea's current consumer sentiment.
yonngong@yna.co.kr
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