Homeplus reports 191% sales increase following store reopenings

Homeplus reported a significant surge in revenue following the reopening of 67 stores that had previously undergone temporary closures. During the five-day period from August 13 to August 17, the retailer recorded total sales of 43.7 billion won. This represents a 191% increase compared to the 15 billion won earned during a similar five-day period prior to the operational suspension.

Daily average sales rose from approximately 3 billion won to 8.7 billion won, while the daily average number of customers increased by nearly 74%, rising from 138,200 to 239,600. The growth is attributed to large-scale promotional events, including discounts of up to 50% on fresh food items such as Korean beef.

While the initial results are seen as a positive step toward normalization, industry analysts caution that the long-term success depends on whether the retailer can maintain stable performance once the initial promotional effects subside. Key challenges include securing a stable supply chain, building customer loyalty, and restoring the broader distribution ecosystem. A meeting of stakeholders to deliberate and resolve the company's rehabilitation plan is scheduled for September 2.