Business · Companies · 2 hrs ago
Lotte Hi-Mart returns to sales growth as care services and mobile sales rise
South Korean retailer Lotte Hi-Mart returned to sales growth in the third quarter, after five quarters without growth in net sales.
Total sales rose 0.7% from a year earlier to 802.2 billion won, while net sales increased 0.3% to 654.5 billion won.
Care service sales climbed 62%, while sales of the company's own-brand products rose 23% and mobile sales rose 28%.
The gains helped offset weak sales of large, household and kitchen appliances as demand for home moves fell and seasonal appliance sales faced a tough comparison.
Operating profit fell to 5.5 billion won, from 19 billion won a year earlier.
Lotte Hi-Mart plans to keep shifting its business towards care services and its own-brand products, which it describes as higher-frequency and higher-margin categories.
Its new appliance repair service passed 25,000 subscribers in a month, and the company plans to build on its customer-care strategy.
Lotte Hi-Mart returned to net sales growth in the third quarter after five quarters without an increase.
Total sales rose 0.7% year on year to 802.2 billion won, while net sales increased 0.3% to 654.5 billion won.
Care services, private-brand products and mobile sales grew, while sales of major, household and kitchen appliances remained weak.
Operating profit fell to 5.5 billion won from 19 billion won a year earlier.
The company said it plans to continue shifting its business toward care services and other higher-frequency, higher-margin categories.
- Who
- Lotte Hi-Mart, a South Korean home-appliance retailer.
- What
- It returned to net sales growth in the third quarter, driven by care services, mobile sales and private-brand products. Operating profit declined year on year.
- When
- The third quarter of 2026; the results were disclosed on November 4.
- Where
- South Korea.
- Why
- Growth in care services, mobile and private-brand sales offset weak appliance sales.
This story does not have two clearly opposing sides.
Lotte Hi-Mart launched its All Care appliance repair service.
The repair service had more than 25,000 subscribers.
Total sales increased 0.7% year on year and net sales rose 0.3%.
Lotte Hi-Mart disclosed its third-quarter results.
- Total sales
- 802.2 billion won, up 0.7% year on year
- Net sales
- 654.5 billion won, up 0.3% year on year
- Care service sales
- Up 62%
- Private-brand sales
- Up 23%
- Mobile sales
- Up 28%
- Operating profit
- 5.5 billion won, down from 19 billion won a year earlier
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home appliance lifelong care platform