GS Retail Q2 operating profit jumps 27.5% to ₩109.4 billion

GS Retail reported stronger second-quarter earnings as its three main divisions expanded at the same time, lifting consolidated operating profit above ₩100 billion and well past its typical second-quarter range of ₩80 billion to ₩90 billion. Revenue for the quarter reached ₩3.18 trillion and operating profit totaled ₩109.4 billion, up 6.7% and 27.5% from a year earlier, respectively, while net profit surged 354.5% to ₩64.6 billion. The biggest contribution came from convenience stores. GS25 posted second-quarter revenue of ₩2.38 trillion and operating profit of ₩71.4 billion, with same-store average daily sales rising 7.5%. The company said a push to strengthen fresh-food offerings through larger store formats, relocations to prime sites, and fresh-focused stores helped drive the gains. Those stores have reached 1,000 locations, with a target of 1,100 by year-end. Grocery sales, including agricultural, livestock, and fishery products, climbed 49.6%, while spending via foreign payment methods rose 67.2%. Supermarket unit GS The Fresh also improved, with revenue rising 10.1% to ₩469.8 billion and operating profit soaring 72.2% to ₩9.3 billion. Quick commerce (ultrafast local delivery) was a standout, with revenue up 49.5% and its share of total sales hitting a record 9.9%. Home shopping unit GS Shop delivered a third straight quarter of earnings improvement as higher-margin exclusive products supported profitability. Revenue edged up 0.9% to ₩268.2 billion and operating profit increased 6% to ₩26.7 billion. For the first half, GS Retail posted revenue of ₩6.03 trillion, up 5.3%, operating profit of ₩167.7 billion, up 31.4%, and net profit of ₩107.2 billion, up 463%. The company said it will keep pursuing differentiated growth strategies across convenience stores, supermarkets, and home shopping.

The information on this website is generated using AI and we cannot guarantee its accuracy. Please use it as reference information only.
GS Retail Q2 operating profit jumps 27.5% to ₩109.4 billion - CoinPost Terminal