Sales at discount outlets and major department stores grew from a year earlier in February, ending their five-month streak of on-year drop, the government said Sunday.
The combined sales of the country’s three major discount outlet chains spiked 24.5 percent on-year in February, according to figures released by the Ministry of Trade, Industry and Energy.The increase marked a sharp turnaround from an 18.3 percent on-year drop in the previous month.
The ministry said the turnaround could largely be attributed to similar falls and rises in the number of holiday shoppers, depending on the month in which the Lunar New Year holiday falls.
In 2014, the three-day Lunar New Year holiday fell in January but this year, it fell in February.
According to the ministry, the total number of purchases made at discount outlets rose 4.9 percent on-year in February, while the average amount of each purchase jumped 18.6 percent.
The three major discount outlet chains are E-Mart, Homeplus and Lotte Mart.
The combined sales of three major department store chains — Hyundai, Lotte and Shinsegae — gained 6.6 percent on-year last month as the total number of purchases and the average amount of each purchase at department stores rose 0.5 percent and 6 percent, respectively. on-year.
Sales at the so-called super supermarkets, mostly run by large retailers, rose 9.4 percent on-year in February, also marking a turnaround from a 10.5 percent on-year drop in the previous month.
Sales at convenience stores surged 10.2 percent on-year. (Yonhap)
