S Korea department store sales rebound

SEOUL: South Korea’s department store sales in September rose at the fastest pace in 11 months, trade ministry data showed on Sunday, as demand rose ahead of the annual Chuseok holiday. Combined sales last month at department stores run by Hyundai Department Store, Lotte Shopping and Shinsegae Co climbed 4.9 per cent in September from a year earlier, reversing a 0.8 per cent decline in August. September’s rise was the fastest since a 6.0 per cent jump in October 2016. Retail sales tend to rise as consumers ramp up purchases of gifts and food before the annual Chuseok holiday, which fell on the week of October 2 to October 8. A breakdown showed sales of nearly all product categories at department stores increased in September, across food and apparel.— Reuters