Hyundai Department Store Q3 net income down 35.6% to $22.9 mil.

Hyundai Department Store on Wednesday reported its third-quarter net income of 30.7 billion won ($22.9 million), down 35.6 percent from a year earlier. Operating profit for the July-September period, on the other hand, stood at 94.6 billion won, up 30.1 percent from a year ago, the company, which operates high-end department stores, premium outlets, and online store and home interior brand Livart, said in a regulatory filing. Sales also rose 16 percent to 1.17 trillion won. The earnings failed to meet market expectations. The average estimate of net profit by analysts stood at 60.3 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.