(LEAD) Lotte Shopping Q1 net jumps nearly eightfold on robust department ...

(LEAD) Lotte Shopping-Q1 earnings

(LEAD) Lotte Shopping Q1 net jumps nearly eightfold on robust department store sales

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SEOUL, May 11 (Yonhap) -- Lotte Shopping Co., an affiliate of South Korean retail conglomerate Lotte Group, said Monday its net profit jumped nearly eightfold in the first quarter from a year earlier, driven by improved department store sales and solid overseas operations.

Net profit soared 694.1 percent from a year earlier to 143.9 billion won (US$98.3 million) in the January-March period, the company said in a regulatory filing.

Operating profit in the first three months of the year surged 70.6 percent to 252.9 billion won, while sales rose 3.6 percent to 3.58 trillion won.

In this file photo, the facade of Lotte Department Store in downtown Seoul is lit up in purple on March 19, 2026, ahead of K-pop supergroup BTS' concert in Gwanghwamun Square. (Yonhap)

Lotte Shopping attributed the improved earnings to strong spending by foreign customers at its major department stores and solid sales of high-margin products, including fashion items.

Operating profit at department stores surged 47.1 percent on-year to 191.2 billion won, while sales increased 8.2 percent to 872.3 billion won, marking record quarterly results for both operating profit and sales.

Its overseas operations also contributed to the overall performance.

Lotte Shopping operates three department stores and 15 hypermarkets in Vietnam, along with one department store and 48 hypermarkets in Indonesia.

Lotte Mall West Lake Hanoi -- a large mixed-use complex featuring a shopping mall, supermarket, hotel, aquarium and movie theater -- posted a record quarterly profit of 4.9 billion won in the first quarter.

Lotte Mart, the company's hypermarket chain, posted 33.8 billion won in operating profit, up 20.2 percent from a year earlier.

Lotte Cultureworks, the operator of Lotte Cinema, returned to profit, supported by the box-office success of the Korean historical film "The King's Warden."

The company said it plans to expand K-content merchandising offerings at its flagship department stores to further boost sales from foreign visitors.