Lotte Department Store soared past the other big five local department stores in sales reported on Monday, while Galleria Department Store gave up its fourth-place slot to AK Plaza.
Lotte reported sales of 14.2 trillion won ($12.8 billion) last year, followed by Hyundai Department Store with 6.98 trillion won ($6.3 billion) and Shinsegae Department Store with 6.3 trillion won ($5.7 billion).
AK Plaza unseated Galleria Department Store for fourth place with 2.15 trillion won ($1.94 billion) in sales versus Galleria’s 2.05 trillion won ($1.85 billion).
Industry watchers said that while AK Plaza and Galleria have room for competition, Lotte, Hyundai and Shinsegae seem to be locking into their respective rankings.