홈플러스 has generated 43.7 billion won in sales over five days since reopening 67 stores nationwide. This figure represents nearly a threefold increase compared to sales before the temporary closure.
According to Homeplus, sales from August 13 to 17, during the 'Home is Back' campaign, totaled 43.7 billion won, marking a 191% increase from the 15 billion won recorded from July 2 to 6, prior to the shutdown.
Average daily sales rose from 3 billion won to 8.7 billion won during this period. The average number of customers also increased by approximately 73.4%, from 138,200 to 239,600.
Homeplus emphasizes that the sustained sales flow over the five days following the reopening is significant, rather than just a spike on specific days. While the company acknowledges that it is too early to determine normalization based solely on short-term results, the rapid recovery in customer numbers and sales is seen as a positive sign.
The company had suspended operations at its 67 key stores on July 13 due to a depletion of operating funds but reopened after securing emergency financing this month.
On August 5, the Seoul Bankruptcy Court approved a 200 billion won emergency operating fund loan supported by Meritz Financial Group. Based on this funding, Homeplus restored its product supply and logistics network, officially reopening the temporarily closed stores on August 13. Of these, 59 stores also resumed online operations.
The initial recovery in sales is expected to be an important indicator in the ongoing rehabilitation process. Homeplus needs to demonstrate to creditors and the court that it can generate cash flow while continuing operations.
The court has canceled its previous decision to terminate the rehabilitation process for Homeplus and extended the deadline for approving the rehabilitation plan to September 4. Given that the rehabilitation process began in March of last year, September 4 is the legally permitted final deadline.
With creditor hearings and voting procedures still pending regarding the rehabilitation plan, the key question remains whether the sales rebound will lead to sustainable operational normalization.
A Homeplus representative stated, “In the five days since reopening, we have once again confirmed customer interest and expectations for Homeplus. We will use this momentum as a valuable driving force for operational normalization, continuously enhancing our product competitiveness, pricing, and customer service until we fully regain customer trust.”
According to Homeplus, sales from August 13 to 17, during the 'Home is Back' campaign, totaled 43.7 billion won, marking a 191% increase from the 15 billion won recorded from July 2 to 6, prior to the shutdown.
Average daily sales rose from 3 billion won to 8.7 billion won during this period. The average number of customers also increased by approximately 73.4%, from 138,200 to 239,600.
Homeplus emphasizes that the sustained sales flow over the five days following the reopening is significant, rather than just a spike on specific days. While the company acknowledges that it is too early to determine normalization based solely on short-term results, the rapid recovery in customer numbers and sales is seen as a positive sign.
The company had suspended operations at its 67 key stores on July 13 due to a depletion of operating funds but reopened after securing emergency financing this month.
On August 5, the Seoul Bankruptcy Court approved a 200 billion won emergency operating fund loan supported by Meritz Financial Group. Based on this funding, Homeplus restored its product supply and logistics network, officially reopening the temporarily closed stores on August 13. Of these, 59 stores also resumed online operations.
The initial recovery in sales is expected to be an important indicator in the ongoing rehabilitation process. Homeplus needs to demonstrate to creditors and the court that it can generate cash flow while continuing operations.
The court has canceled its previous decision to terminate the rehabilitation process for Homeplus and extended the deadline for approving the rehabilitation plan to September 4. Given that the rehabilitation process began in March of last year, September 4 is the legally permitted final deadline.
With creditor hearings and voting procedures still pending regarding the rehabilitation plan, the key question remains whether the sales rebound will lead to sustainable operational normalization.
A Homeplus representative stated, “In the five days since reopening, we have once again confirmed customer interest and expectations for Homeplus. We will use this momentum as a valuable driving force for operational normalization, continuously enhancing our product competitiveness, pricing, and customer service until we fully regain customer trust.”
* This article has been translated by AI.
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