[Edaily Reporter KYUNG GYEYOUNG ] SAMSUNG C&T CORPORATION(028260) ’s fashion division announced on the 29th that its second-quarter operating profit reached 54 billion won, a 63.6% increase compared to the same period last year.
Preliminary figures show that revenue for the same period rose 16.3% to 593 billion won. The operating profit margin stood at 9.1%, up 2.6 percentage points from 6.5% in the second quarter of last year.
SAMSUNG C&T CORPORATION attributed the significant improvement in profitability to stricter management of discount rates. With consumer sentiment remaining strong, the company’s core in-house and imported brands grew evenly, sustaining the upward trend in revenue.
SAMSUNG C&T CORPORATION explained that while the business environment may become challenging in the second half of the year due to concerns over a decline in consumer sentiment, it will strive to achieve annual revenue growth and improved profitability by strengthening the competitiveness of its products and brands.
A view of the Alaïa store inside the Galleria Luxury Mall, exclusively distributed in Korea by “10 Corso Como Seoul,” the concept store of SAMSUNG C&T CORPORATION’s Fashion Division. (Photo: SAMSUNG C&T CORPORATION)
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