Hanwha Galleria reported that its first-quarter performance included sales of 129.2 billion won and an operating profit of 1.8 billion won, according to a disclosure on the 14th. Compared to the same period last year, sales increased by 5.8%, but operating profit decreased by 75.2%.
During the same period, net income recorded 4.4 billion won, marking a shift to a loss compared to the same period last year (operating profit of 2.6 billion won).
Hanwha Galleria noted, "The operating gap due to store renovations and the slowdown in luxury goods demand had an impact," adding, "In the second half, when renovations are completed, we will work to improve overall performance with a recovery in department store sales and visible results in the institutional sector of food and beverage."