Lotte Ranked No. 3 Global Department Store by Forbes

      June 17, 2013 11:16

      Lotte Shopping now stands as the third largest department store in the world, according to a recent list of the world's "Global 2000" companies by Forbes.

      Lotte said on Sunday that its ranking has continued to climb from fourth in 2012 and sixth in 2011. It now trails No. 1 PPR of France and No. 2 Macy's in the U.S. in world terms to rank as the leader among Asian shopping giants.

      Among all industries, Lotte came in at 470th among the 2,000 companies, up from 518th in 2012.

      The annual list ranks global companies based on a composite score of sales, profits, assets and market capitalization.

      For conglomerates with multiple business divisions, Forbes puts them in the industry category that nets them most of their sales. Lotte Shopping operates department stores, discount stores and supermarkets, but the former takes precedence as it accounts for 47 percent of total sales.

      As of last year, Lotte Shopping posted US$34.6 billion in total assets, $22.2 billion in sales, $1 billion in net profit, and $10.3 billion in market capitalization.

      A total of 64 Korean firms were included in the Global 2000 list including Samsung Electronics (20th), Hyundai Motor (89th), and POSCO (184th).

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