Shinsegae Casa swings to profit in Q1 on strong sales of CAMPO sofas

[Courtesy of Shinsegae Casa Co.]

Shinsegae Casa Co., the furniture arm of South Korea’s Shinsegae Group, swung to an operating profit of 1 billion won ($731,005) in the first quarter, marking the first quarterly black in two years.

Shinsegae Casa announced Wednesday that its operating profit stood at 1 billion won in the first quarter of this year on sales of 68.5 billion won, up 30 percent from the same period a year ago.

The company managed to turn around from an operating loss of 8.8 billion won in the first quarter of last year.

Shinsegae Casa attributed the turnaround to the growth of its specialized sleep brand, MATERASSO, launched in 2021 to target the local bedding market, and the robust sales of its mega-hit product, CAMPO Sofa.