Emart and Lotte Mart Report Revenue Growth in Q2 Despite Ongoing Losses

Emart and Lotte Mart have increased their discount store sales in the second quarter. Emart's discount store sales reached 2.792 trillion won, marking a 0.8% increase compared to the same period last year, while its operating loss narrowed by 5.7 billion won to 27.1 billion won. Trader's sales grew by 10.3% to 992.7 billion won, with an operating profit of 34.6 billion won. Lotte Mart's sales in the second quarter rose by 2.6% to 1.3295 trillion won, and its operating loss decreased by 1.1 billion won to 37.8 billion won. Although overall sales for large supermarkets showed a downward trend, both companies managed to attract customers through discount events and competition in fresh food. Emart's sales increased by 8.8% and customer numbers grew by 4.1% due to the 'Whale It Festa'. Lotte Mart strengthened its price competition with 'Big Day' and its own brand ingredients. The competitive landscape has changed due to operational disruptions at Homeplus, with Emart and Lotte Mart becoming the first and second largest players in terms of store count. However, both companies continue to experience operating losses, with Emart's consolidated operating loss reaching 43 billion won in the second quarter. Plans are in place to enhance online fresh food delivery in the second half of the year.

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