Seven Eleven Reports Operating Loss of 8.5 Billion KRW Last Year... First Deficit in 14 Years

[Asia Economy Reporter Dongwoo Lee] Korea Seven, the operator of the convenience store Seven Eleven, returned to a deficit last year due to the impact of COVID-19.

According to the Financial Supervisory Service's electronic disclosure system on the 1st, Korea Seven recorded an operating loss of 8.5 billion KRW last year.

This is the first time in 14 years since 2006 that Korea Seven has posted an operating loss.

Sales increased by 0.26% to 4.0683 trillion KRW, but considering the number of stores, it is evaluated that sales have effectively decreased. The number of Seven Eleven stores increased by 485 from 10,016 at the end of 2019 to 10,501 at the end of last year.

Excluding profits from the financial services sector, the convenience store operating loss was 13.9 billion KRW.

Korea Seven stated that it expects performance to improve as the COVID-19 situation is expected to ease somewhat this year, and it is promoting the expansion of the 'Food Dream' platform, a high-profit food specialty store, as well as strengthening online-offline linked services and delivery services.

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