Sales at South Korea’s major discount chains dropped from a year earlier last month, reflecting a worsening consumer sentiment in the wake of a possible global economic slowdown, the government said Monday.
Sales at the country’s three major discount chains slipped 1.1 percent from the same period last year in September, according to the Ministry of Knowledge Economy.
“Sales at large discount outlets dropped slightly, largely on worsening consumer sentiment due to a spread of global economic uncertainties and lower-than-anticipated sales during the Chuseok holiday (which fell on Sept. 12),” the ministry said in a press release.
The outlet chains are Lotte Mart, E-Mart and Homeplus.
Sales at the country’s three major department store chains, on the other hand, surged 6.5 percent on-year in September, continuing their positive growth since February 2009. (Yonhap News)
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