Retailers suffer snowballing losses from ill-timed deals 유통업체들, 투자손실증가

[김우정]

대형 유통기업들이 최근 투자손실이 증가하고 있습니다.
롯데는 미니스톱인수로 664억, 한샘지분투자로 530억의 손실을 기록했습니다.
신세계는 G마켓을 인수하고 1,600억원의 영업권을 상각했습니다.
GS리테일은 요기요를 인수하여  이용자수가 작년말 기준으로 전년대비 15.6% 감소했습니다.
성공적인 투자는 너무 어렵습니다.
 
Retailers suffer snowballing losses from ill-timed deals
유통업체들, 부적절한 시기의 투자로 큰 손실
 
By Lee Min-hyung 이민형 기자
Posted : 2024-03-04 15:54 Updated : 2024-03-05 08:53
Korea Times

From left are Lotte Group Chairman Shin Dong-bin, Shinsegae Group Vice Chairman Chung Yong-jin, Hyundai Department Store Group Chairman Chung Ji-sun and GS Group Chairman Huh Tae-soo. Courtesy of each firm 왼쪽부터 신동빈 롯데그룹 회장, 정용진 신세계그룹 부회장, 정지선 현대 백화점그룹 회장, 허태수 GS그룹 회장. 각 기업 제공

Major retailers — such as Lotte, Shinsegae, Hyundai and GS — have suffered snowballing losses in the wake of their ill-timed acquisitions of once-red-hot companies during the COVID-19 pandemic era, leaving them in a growing dilemma over whether to pursue an exit strategy, according to industry officials, Monday.
월요일 업계 관계자들에 따르면 롯데, 신세계, 현대, GS 등 주요 소매업체들은 코로나19 팬데믹 시대에 한때 인기가 높았던 회사들을 부적절한 시기에 잘못 인수한 이후 눈덩이처럼 불어나면서 적자를 보고 있으며, 이로 인해 출구 전략을 추진할 것인지에 대한 딜레마가 커지고 있다.

According to the four major retail firms, they faced an accumulated paper loss of more than 500 billion won ($375.6 million) last year due to what is widely viewed as excessive investment in firms that had previously seemed promising during the pandemic years of 2021 and 2022 when investor sentiment reached its peak.
4대 유통기업에 따르면 투자심리가 최고조에 달했던 2021~2022년 팬데믹 기간에 기존에 유망해 보였던 기업에 대한 과도한 투자로 인해 지난해 누적 5,000억원 이상의 적자를 기록했다.

Lotte Group’s affiliates reported a paper loss of more than 188 billion won in 2023, stemming mostly from untimely investments. In 2022, Lotte acquired the management rights to convenience store chain Ministop, but it ended up incurring 64.4 billion won in amortization of goodwill. Lotte Shopping, a key retail affiliate of the group, also lost over 53 billion won on valuation of equity investment for Hanssem, a home furnishing firm.
롯데그룹 계열사들은 2023년에 1천880억원이 넘는 서류상 손실을 냈는데, 이는 대부분 때아닌 투자에서 비롯된 것이다. 롯데는 2022년 편의점 체인 미니스톱의 경영권을 인수했지만, 결국 644억원의 영업권 상각 처분을 했다. 그룹 핵심 유통 계열사인 롯데쇼핑도 가구 업체인 한샘의 지분 투자 평가에서 530억원이 넘는 손실을 봤다.

This is the case for other retail giants. Shinsegae Group had to endure goodwill amortization worth approximately 160 billion won, hit by the falling value of Gmarket — operated by E-Mart, an affiliate of Shinsegae. The retailer acquired the e-commerce firm for 3.44 trillion won in 2021, with hopes to expand its presence in the then-promising online shopping sector, as the pandemic shock surged demand for e-commerce.
다른 대형 유통업체들도 마찬가지다. 신세계그룹은 신세계 계열사인 이마트가 운영하는 G마켓의 가치 하락으로 약 1,600억 원 규모의 영업권 상각을 감수해야 했다. 2021년 코로나19 충격으로 전자상거래 수요가 급증하면서 당시 유망했던 온라인 쇼핑 분야에서 입지를 넓히겠다는 희망으로 이 전자상거래 업체를 3조 4,400억 원에 인수했다.

GS Retail also incurred losses of more than 117 billion won last year for its untimely acquisition of Yogiyo, a food delivery app. The retailer purchased a controlling stake in the company for over 300 billion won in 2021 on hopes for its sustainable growth sparked by then-rising demand for food delivery services.
GS리테일은 또한 작년에 음식 배달 앱인 요기요를 때아닌 인수하여 1,170억원 이상의 손실을 입었다. 이 소매업체는 당시 음식 배달 서비스에 대한 수요 증가로 촉발된 지속 가능한 성장에 대한 희망으로 2021년에 이 회사의 지배 지분을 3,000억원 이상에 매입했다.

GS is in an internal dilemma over the falling market share of Yogiyo. According to data from Mobile Index, an app data analysis firm, the market share for Yogiyo is on the decline amid fierce competition posed by Coupang Eats. Yogiyo is the nation’s second-largest food delivery app, but its status is being threatened by Coupang.
GS는 요기요의 시장 점유율 하락에 대해 내부적으로 딜레마에 빠졌다. 앱 데이터 분석 회사인 모바일 인덱스의 데이터에 따르면, 쿠팡이츠가 제기하는 치열한 경쟁 속에서 요기요의 시장 점유율은 하락하고 있다. 요기요는 국내 2위의 음식 배달 앱이지만, 쿠팡에 의해 그 지위가 위협받고 있다.

As of December 2023, the number of Yogiyo’s monthly average users (MAU) came in at 5.83 million, down by 15.6 percent from the previous year. This was in contrast to the steep growth of Coupang Eats which saw its MAU soar by 35 percent during the same period.
2023년 12월 기준 요기요의 월평균 이용자수(MAU)는 583만명으로 전년 대비 15.6% 감소했다. 같은 기간 월평균 사용자(MAU: Monthly Average Users)가 35%나 급등한 쿠팡이츠의 가파른 성장세와 대조적이었다.

Hyundai Department Store increased its goodwill amortization on Zinus — a mattress manufacturer —to 40 billion won in 2023, doubling the figure from the previous year. The department chain operator acquired a 38.1 percent stake in the company at 879 billion won in 2022 when the firm made headlines for its unmatched popularity in global e-commerce channels such as Amazon. But Zinus' operating profit ended up suffering a sharp decline of 72 percent in 2023 from a year earlier.
현대 백화점은 매트리스 제조업체인 지누스에 대한 영업권 상각액을 2023년 400억원으로 전년 대비 두 배로 늘렸다. 아마존 등 글로벌 전자상거래 채널에서 독보적인 인기를 누리며 화제가 됐던 2022년 지누스는 지분 38.1%를 8790억원에 인수했다. 하지만 2023년 지누스의 영업이익은 전년 대비 72% 급감했다.

Industry officials said the retailers would have no choice but to wait for the market to bounce back.
업계 관계자들은 소매업체들이 시장이 반등할 때까지 기다릴 수밖에 없을 것이라고 말했다.

“As the economy entered a cycle of downturn in 2022, most companies which made similarly excessive investments during the pandemic are paying the price for their ill-timed investment,” an official from a major retailer said. “But there is no clear exit in sight for the time being until the overall market sentiment takes a turn for the better.”
한 대형 유통업체 관계자는 "2022년 경기가 하강 사이클에 접어들면서 팬데믹 기간에 비슷한 무리한 투자를 한 대부분의 기업들이 시기에 맞지 않은 투자에 대한 대가를 치르고 있다,"며 "그러나 전반적인 시장 심리가 호전되기 전까지는 당분간 뚜렷한 출구가 보이지 않는다"고 말했다.

#snowballinglosses눈덩이처럼불어나는손실 #ill-timedacquisitions부적절한시기의인수 #exitstrategy출구전략 #paperloss서류상손실 #excessiveinvestment과도한투자 #goodwillamortization영업권상각 #marketshare시장점유율 #monthlyaverageusers(MAU)월평균이용자수 #downturncycle하강사이클 #overallmarketsentiment전반적인시장심리