Despite the Middle East Respiratory Syndrome (MERS) crisis, Shilla Duty Free Shop enjoyed more than 20 percent growth in sales in the second quarter of this year, although its operating profit fell 5.4 percent.
The Hotel Shilla’s duty-free business posted sales of about 766.6 billion won in the second quarter of this year, up 20.5 percent from 636 billion won a year ago. Downtown duty-free shops accounted for 417 billion won in total sales, while airport duty-free shops took up for 349.6 billion won.
In contrast, Shilla Duty Free Shop’s operating profit fell 5.4 percent year on year to 33.5 billion won due to the increase in expenditures arising from its drive to expand its presence in overseas markets, including its acquisition of Dpass, a U.S. retailer supplying duty-free items to airlines.
Even in the first quarter of this year, Shilla Duty Free Shop suffered a loss of 14 billion won in Asian markets, although it posted a 48-billion-won operating profit in the domestic market.
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