SEOUl, KOREA - Lotte Shopping has been ranked No. 3 in the world among department stores. The company said on June 16 it was ranked third among department store operators in the "Global 2000 Leading Companies" list announced by the Forbes magazine. Its rank gained one notch this year from 2012, followed by two notches from 2011 when it was listed sixth.
Other department store operators ranked higher on the list included Printemps Department Store of France and Macy's of the United States. Lotte is thus No. 1 in Asia. Japan's AEON Group, ranked higher than Lotte last year, was excluded this year from the department store category as its discount store division overtook it in terms of sales revenue. Other department store operators such as TJX Companies (U.S.), Falabella (Chile), Kohl's (U.S.), Marks & Spencer (UK), Isetan Mitsukoshi (Japan), Nordstrom (U.S.), and SM Department Store (Philippines) were on the top-ten list.
On the Global 2000 Leading Companies list, Lotte Shopping was ranked 470th with a sales revenue of US$22.2 billion, a net profit of $1 billion, and a market cap of $10.3 billion. Lately Lotte Shopping is raising its profile as a global retail operator by being included in the Dow Jones Sustainability Index World for four consecutive years.
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