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한상넷 로고한상넷

전체검색영역
E-Mart shutters more discount stores
Collected
2018.03.26
Distributed
2018.03.27
Source
Go Direct
E-Mart Inc., discount store unit of South Korean retail conglomerate Shinsegae Group, sold off its Deogi outlet in Ilsan, north of Seoul, as a part of streamlining amid struggling grocery chain business.

E-Mart has been shuttering stores and selling off locations. It shut down a grocery branch in Mokdong, east of Seoul, late January and sold off Bupyeong outlet in Bucheon, Gyeonggi Province and Siji outlet in Daegu, North Gyeongsang Province last year. Previously, it pulled out of China.

The Deogi outlet formerly ran under Walmart Inc. and bore E-Mart name from 2006 after the Korean company bought Walmart Korea.

Big-box stores have been losing money as consumers turn more to mobile and online grocery shopping and also because of increasing single-person families that lessen the reason to buy products in bundles.

The company plans to concentrate more on upgrades to existing network and seek more cooperation with smaller vendors. It has contracted out three employee cafeterias to a mid-sized catering service provider LSC Food in January and plans to have the caterer run additional 17 cafeterias.

At 12:21 p.m. Monday, E-Mart shares were down 2.34 percent at 271,500 won.

By Lee Han-na and Cho Jeehyun

[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]