Shinsegae International Cheongdam headquarters. /Courtesy of Shinsegae International

Shinsegae International reported preliminary first-quarter results on the 13th, with sales of 304.2 billion won and operating profit of 4.6 billion won.

Compared to the first quarter of last year, sales decreased by 1.7%, and operating profit fell by 58.3%.

During the same period, net profit was 4.5 billion won, a decrease of 64.2% compared to the first quarter of last year.