S. Korean retail sales pick up pace in May

By Lee Joon-seung
SEOUL, June 16 (Yonhap) -- South Korea's major retailers posted higher sales
gains in May than the previous month on greater demand for groceries and
household goods, a government report showed Tuesday.

Total sales at the nation's three leading discount outlets rose 1.6 percent
on-year last month, while the combined revenue of as many department stores
increased 5.4 percent, the Ministry of Knowledge Economy said.
April's annual growth figures were 0.1 percent for the discounters -- Lotte Mart,
E-Mart and Homeplus -- and 2.8 percent for the department stores -- Lotte,
Shinsegae and Hyundai.
"For department stores, May marks the third straight month of increase, while
discount outlets had reported more sales since an annual 20.3 percent tumble in
February," the report said.
Solid sales for sporting goods, groceries and household products played a key
role in pushing up discount outlets' results last month.
Groceries, which account for more than half of all sales at large discount
stores, rose 3.3 percent in May. Sporting goods and household products also moved
up 7.7 percent and 3.2 percent, respectively.
For department stores, sales of luxury goods and groceries fueled growth by
jumping 14.7 percent and 8 percent each.
Sales of miscellaneous goods and sports-related products rose 13.7 percent and
3.2 percent on-year, with sales declining for clothing, the report said.
yonngong@yna.co.kr
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