BGF Retail Reports Q3 Operating Profit of 69.5 Billion KRW, Up 9.1% YoY (Comprehensive)
[Asia Economy Reporter Lim Chunhan] BGF Retail announced on the 4th that its consolidated operating profit for the third quarter of this year was tentatively estimated at 69.5 billion KRW, a 9.1% increase compared to the same period last year.
Sales reached 1.8365 trillion KRW, up 9.1% year-on-year. Net profit was 49.3 billion KRW, down 4.1%.
BGF Retail explained that sales increased due to a rise in foot traffic as COVID-19 vaccination rates increased and the distribution of the 5th round of national support funds.
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BGF Retail stated, “Overall sales increased across most products, and operational strategies such as upgrading convenience foods like lunch boxes, expanding differentiated collaborative products, and mobile sales of large-sized products had a positive impact. We are implementing customized product and store operation strategies in response to changing customer demands as daily life gradually recovers in the second half of the year.”
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