Busan is good

Discount stores keep outperforming department stores

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The Busan region's large retail outlets have experienced contrasting fortunes over the past year as the growth of discount stores coincided with the decline of department stores.

According to the National Statistical Office (NSO)'s Busan Office Monday, sales at the region's discount stores grew at 7.4 percent in January while those at department stores tumbled by 20.1 percent to 102.2 billion won. The region's department stores saw a consistent decline of sales ever since January, last year, when their monthly sales stood at 127.9 billion won.

Even on the month-on-month basis, sales at discount stores in January soared 12.6 percent over December, while those at department stores fell 12.2 percent.

Sales at discount stores have been boosted by newly opened stores, including HomePlus's Asiad Store (April, 2003), E-Mart's Munhyeon Store (July), Gumjeong Store (August) and Sasang Store (December), and the makeover of the former Rivera Department Store to SaveZone, a discount store that opened in August.

The source of news : Busanilbo, Tuesday March 2, 2004, 8:30