On Tuesday, Hyundai Department Store Co. reported a third-quarter net income of 62.9 billion won (US$48 million), a decrease of 9.2 percent from the same period in the previous year.
The company stated in a regulatory filing that its operating profit for the quarter was 74 billion won, a drop from 92.2 billion won in the same quarter of the prior year. Revenue also decreased by 26.8 percent to 1 trillion won.
The earnings surpassed market expectations, with the average prediction of net profit by analysts being 46.6 billion won, as per a survey conducted by Yonhap Infomax, the financial data arm of Yonhap News Agency.
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