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Lotte Shopping targets 17 tln won in sales by 2026

14:59 September 19, 2023

By Kim Na-young

SEOUL, Sept. 19 (Yonhap) -- Lotte Shopping Co., which operates one of South Korea's biggest department store chains, said Tuesday it targets annual sales of 17 trillion won (US$12.8 billion) by 2026, as it seeks to expand its business in Southeast Asia.

Lotte Shopping also aims to post an operating profit of 1 trillion won by 2026, the company told a session of investor relations earlier in the day.

The company reported an operating profit of 386.2 billion won with sales of 15.5 trillion won last year.

Lotte Shopping is set to open Lotte Mall Westlake Hanoi, a large complex comprising a shopping mall, supermarket, hotel, aquarium and movie theater, in Vietnam's capital on Friday.

It has also launched a project aimed at building a shopping mall, office spaces, a hotel, a cinema and apartment buildings in Ho Chi Minh City.

This photo provided by Lotte Shopping Co. shows Lotte Department Store in central Seoul. (PHOTO NOT FOR SALE) (Yonhap)

nyway@yna.co.kr
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