E-Mart posts first-ever loss; plans to sell assets

Asia .
E-Mart posts first-ever loss; plans to sell assets

Inside Retail Asia: Korean discount chain operator E-Mart has posted its first-ever net loss, amid growing competition from online shopping rivals and e-commerce giants.

The company’s quarterly results showed a net loss of KRW26.6 billion (US$24.7 million) between April and June, its first negative result since it was spun off from Shinsegae Group in 2011. The loss stands in comparison to a net profit of KRW94.8 billion ($77.7 million) during the same period last year. Full article: https://insideretail.asia/2019/08/13/e-mart-posts-first-ever-loss-plans-to-sell-assets/#daily

 

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