GS Retail's third quarter operating profit was 132.1 billion won... Highest quarterly performance ever (comprehensive)

GS Retail [007070], a KOSPI-listed company, announced on the 4th that its consolidated operating profit in the third quarter of this year was provisionally calculated to be KRW 132.1 billion, an 18.9% increase from the same period last year.

Sales amounted to 3.3143 trillion won, an increase of 3.4% compared to the same period last year. Net profit decreased by 44.7% to 49.9 billion won. Both sales and operating profit in the third quarter are record highs.

Convenience store GS25's sales amounted to 2.4743 trillion won, an increase of 1.1% compared to the same period last year. Despite the high base in the third quarter of last year, which benefited from consumption coupons, daily same-store sales continued to grow by 3.2%, reaching an all-time high.

In particular, the company analyzed that the number of fresh-enhanced stores expanded to 1,074 as of the end of September, and that fresh products such as vegetables (66.4%) and livestock (29.9%) were established as new growth products, strengthening the position of the short-distance retail platform.

In the third quarter, GS25 foreign sales increased by 69.4% compared to the same period last year, and quick commerce (delivery/pickup) sales also increased by 86.9%, contributing to sales growth.

However, operating profit decreased by 8.1% compared to the same period last year to KRW 78.2 billion.

Super GS The Fresh recorded record highs in both sales and operating profit. Sales increased 14.9% from the same period last year to KRW 527.7 billion, and operating profit soared 159.8% to KRW 23.9 billion.

The number of stores increased by 27 in one year, and same-store sales also increased noticeably by 10.7%. In supermarkets, quick commerce sales increased by 52.2%, reaching double digits as a proportion of total sales (10.1%) for the first time.

Home shopping GS Shop's sales increased by 2.3% to KRW 253.2 billion and operating profit increased by 108.6% to KRW 24.2 billion, also showing good performance.

A GS Retail official said, "We have improved our structure by strengthening the competitiveness of each business, such as convenience stores, supermarkets, and home shopping, through customer-centered differentiated products and services and site-centered operational innovation, thereby expanding our profit structure. We will continue to grow by putting customers and sites first and strengthening the competitiveness of our main business."