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Hyundai Department Store profit misses consensus by 36.1% in Q2

Hyundai Department Store Co. Ltd. said its second-quarter normalized net income was 1,668.47 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 2,611.09 won per share.

EPS declined 11.1% year over year from 1,876.00 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 38.03 billion won, a decline of 12.0% from 43.22 billion won in the year-earlier period.

The normalized profit margin dropped to 9.8% from 11.6% in the year-earlier period.

Total revenue increased on an annual basis to 387.25 billion won from 371.65 billion won, and total operating expenses rose 6.2% on an annual basis to 316.88 billion won from 298.36 billion won.

Reported net income fell 18.3% from the prior-year period to 52.60 billion won, or 2,307.72 won per share, from 64.39 billion won, or 2,795.22 won per share.

As of Aug. 17, US$1 was equivalent to 1,183.06 South Korean won.