South Korea's retail sales retreat
Seoul, July 19 (IANS) Sales at South Korea's major discount outlets and department stores retreated last month due to weak demand for groceries and clothes, a government report showed Thursday.
Total sales at the country's three leading discount chains, including E-Mart, Lotte Mart and Homeplus, tumbled 7.2 percent in June from a year earlier, compared with a 5.7 percent on-year contraction tallied in the previous month, according to the Ministry of Knowledge Economy.
The contraction was attributed to weak demand for foodstuffs stemming from price hikes in farm goods and fishery products. Mandatory closure of stores caused less business days, contributing to less revenue by discount outlets, reported Xinhua.
Grocery sales, which account for more than half of sales by the key discount chains, tumbled 6.7 percent on-year in June, and demand for consumer electronics and clothing dropped 14.4 percent and 12.4 percent, respectively.
Sales of daily household goods and miscellaneous products declined 4.4 percent and 10.9 percent, respectively, over the cited period, with sales of sports-related items falling 0.5 percent.
Read More: North Korea | South Korea | South Delhi | South West Delhi | South Goa | South 24 Parganas | South Dinajpur | South Sikkim | South Garo Hills | Korea | South T.t. Nagar | South Jhagrakhand Colly | Korea Colly | South Banjara Hills | L.s.farm | Tirupati South So | Puttur South So | Banaganapalle South Tso | Vijayapuri South | Sales Tax Building
7 ROB ATM MACHINE FILLED WITH CASH
June 18, 2013 at 8:35 PM
SALWA JUDUM SPO BRUTALLY BEATEN UP BY POLICE OFFICER (NNIS SPECIAL)
June 18, 2013 at 8:25 PM
BJP SAYS, IT IS SETTING THE AGENDA FIRST FOR DELHI POLLS
June 18, 2013 at 8:19 PM