THE WHAT? AmorePacific Corp has reported its results for the third quarter of the current financial year, according to a report published by The Korea Herald. The K-beauty behemoth saw net profit hit KRW38.5 billion in the three months to September 30, 2021, a considerable improvement on the KRW7 billion reported the same time last year.
THE DETAILS Sales inched up 1.9 percent to KRW1.1 trillion, with domestic sales recording a healthy uptick of 7.3 percent while overseas sales fell 9.2 percent to KRW384.1 billion.
THE WHY? AmorePacific has reduced its store count in China, hence its poor overseas performance, per The Korea Herald.