Homeplus sales rise 57% after August reopening despite limited inventory

  • Homeplus reported ₩116.4 billion in revenue after its August reopening.
  • Revenue rose 57%, while foot traffic increased 38% and purchasing members surged 255%.
  • Homeplus suspended 67 core stores July 13 and awaits court approval to normalize deliveries.

Homeplus recorded ₩116.4 billion ($85.1 million) in revenue between its official Aug. 13 reopening and Aug. 30, up 57% from the comparable period before its suspension. Store traffic increased 38%, while the number of members making purchases surged 255%. The retailer said revenue remained steady even after the initial post-reopening weekend, pointing to a solid customer base. Homeplus suspended operations at 67 core stores nationwide on July 13 after running out of working capital. Following emergency funding, it temporarily reopened on Aug. 7 and resumed normal operations across all stores on Aug. 13. The company is undergoing court-supervised rehabilitation and must pay suppliers upfront, limiting inventory to merchandise it can finance with available working capital. Homeplus said cost reductions and the closure of underperforming stores had improved profitability, while deliveries should gradually normalize after court approval of its rehabilitation plan. Discounts, including up to 50% off Korean beef for My Homeplus members and roughly half-price Dangdang fried chicken, have supported customer traffic and sales momentum.

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