Lotte Shopping Co Ltd (OTCPK:LTSHY)

$ 20.1 0 (0%) Market Cap: 11.88 Bil Enterprise Value: 21.71 Bil PE Ratio: 0 PB Ratio: 0.19 GF Score: 64/100

Q1 2022 Lotte Shopping Co Ltd Earnings Call Transcript

May 09, 2022 / 07:00AM GMT

Transcript

Ji Hwan Seol

Lotte Shopping Co. Ltd. - Head of IR

Good afternoon, ladies and gentlemen. This is Ji Hwan Seol, Head of Investor Relations of Lotte Shopping. Thank you for joining us in Lotte Shopping's fiscal year 2022 first-quarter earnings conference call. Today we have Mr. Ho Joo Chang, Executive Vice President and CFO of Lotte Shopping, and other relevant department heads of planning and strategy from major business units are present in this conference call.

I'll proceed today's presentation in Korean first followed by English. Questions will be taken after the presentation. I'll now start with the highlights on page 2 of the presentation.

Page 2 is the highlights of the 2022 first-quarter earnings results. Lotte Shopping's first-quarter consolidated revenue was KRW3.8 trillion indicating 2.8% year-over-year decline. Domestic Department Stores have shown solid SSSG led by strong sales growth, particularly in luxury fashion segment.

Hypermarket indicated flattish SSSG due to weak sales trends in off-line channel despite the increased demand in online grocery shopping.

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