Seoul: Hyundai Department Store Co. on Wednesday reported its second-quarter net profit of 54.5 billion won (US$39.2 million), marking a significant turnaround from a loss of 145.4 billion won a year earlier.
According to Yonhap News Agency, the company revealed in a regulatory filing that it achieved an operating profit of 86.9 billion won for the quarter, a substantial increase compared to 42.8 billion won in the same period last year. Additionally, the company's sales rose by 5.5 percent, reaching 1.08 trillion won.
This robust performance exceeded market expectations, as analysts had projected an average net profit of 34.9 billion won, based on a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency.