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Department store sales in S.Korea post double-digit growth

Xinhua, November 26, 2015 Adjust font size:

Department store sales in South Korea posted a double-digit growth last month due to discount events, a government report showed Thursday.

Sales in major department stores increased 11.4 percent in October from a year earlier, according to the Ministry of Trade, Industry and Energy. It was the first double-digit increase in 14 months.

Discount events and wedding fairs drove up the sales in department stores of home appliances, of which sales surged 26.6 percent last month. Clothing sales expanded 9.6 percent, posting the first growth in five months.

Sales in convenient stores soared 35.1 percent due to an 80 percent hike in cigarette prices from earlier this year.

Cigarette sales jumped 66.1 percent, and fresh food sales increased 20.7 percent. Those for processed food and household items gained 17.5 percent and 12.5 percent each.

Discount store sales inched down 0.5 percent in October from a year ago as demand for fruits and meat declined following the Chuseok holiday. Enditem