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AmorePacific’s profit suffers from drop in Chinese tours

Apr 25,2017
AmorePacific Group, Korea’s top cosmetics maker, said Monday its first-quarter net profit shrank 15 percent from a year earlier due largely to a protracted slump in the domestic market and a rapid drop in Chinese tourists.

The company’s net income was 223.5 billion won ($197.1 million) in the January-March period, compared with 262.9 billion won the previous year, the company said in a regulatory filing.

The company cited a slump in its domestic sales. Yonhap