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Lotte Shopping posts 28.3% y/y fall in 2019 operating profit; to close 200 stores Updated: 2020-02-14 16:38:47 KST

South Korea's Lotte Shopping suffered a drop in operating profit last year mainly due to lower sales at its discount outlets and supermarkets.
Operating profit was down some 28 percent on-year to around 360 million U.S. dollars, with a net loss of around 730 million dollars.
Sales fell by more than one percent from the previous year.
Lotte Shopping says it will close around two hundred of its department stores and supermarkets, which is about a third of its seven hundred stores nationwide.
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