GS Retail Surpasses Annual Sales of 9 Trillion Won... Operating Profit Up 32.5% YoY (Comprehensive)

[Asia Economy Reporter Seungjin Lee] GS Retail has surpassed 9 trillion won in sales.

GS Retail announced on the 5th that its operating profit last year was tentatively estimated at 238.8 billion won, a 32.5% increase from the previous year. In particular, last year's sales recorded 9.0069 trillion won, a 3.6% increase compared to the previous year, marking the first time since its founding that sales exceeded 9 trillion won. Net profit was estimated at 143.6 billion won, an 8.5% increase from the previous year.

GS Retail's consolidated operating profit for the fourth quarter of last year was 49.9 billion won, soaring 97.1% compared to the same period last year. Sales increased by 3.1% to 2.2408 trillion won, and net profit rose 65.9% to 9.7 billion won.

In particular, the convenience store business (GS25) led the overall performance. Last year, GS25's operating profit recorded 256 billion won, a 33.5% increase from the previous year. Sales increased by 4.7% to 305.4 billion won.

Hotel operating profit also grew steadily, recording 63.8 billion won, an 11.1% increase last year. Sales rose 5.5% to 305.6 billion won.

On the other hand, the supermarket business and H&B (Lalavla) could not escape sluggishness. Last year, supermarket sales decreased by 2.1% to 1.4755 trillion won, and operating losses expanded to 28.9 billion won. H&B recorded a slightly reduced operating loss of 15.9 billion won last year. Sales slightly decreased to 162.8 billion won.

A GS Retail official explained, "The convenience stores saw increased sales of differentiated products including ready-to-eat foods, store sales improvement activities through store renovations across more than 7,000 stores accumulated since 2013, and an increase in customer purchase prices due to the introduction of various lifestyle convenience services based on platforms."

This content was produced with the assistance of AI translation services.