S. Korea's department stores book higher high-end spending

09/25/2013 | Yonhap News Agency (South Korea)

South Korea's three major department store chains, Hyundai, Shinsegae and Lotte, reported a collective 6.6% same-store sales increase in August compared to the same month last year, fueled largely by a rise in spending on luxury goods, according to the Ministry of Trade, Industry and Energy. Sales at convenience stores also rose during the month, while discounters and supermarkets reported declines.

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Yonhap News Agency (South Korea)

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