BGF Retail Reports Q2 Operating Profit of 70.8 Billion KRW, Up 20.6% YoY
[Asia Economy Reporter Jeon Jin-young] BGF Retail announced on the 4th that its consolidated operating profit for the second quarter was tentatively estimated at 70.8 billion KRW, a 20.6% increase compared to the same period last year. During the same period, sales rose 12.8% to 1.9186 trillion KRW, and net profit also increased by 22.6% to 57.4 billion KRW.
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A BGF Retail official stated, “We enhanced operational responsiveness by location in line with the reopening and actively introduced new and seasonal products to drive sales growth.” He added, “Our proactive response to recent inflation by planning ultra-discount products and launching budget shopping promotions also contributed to increased customer traffic.” He further analyzed, “Focusing on differentiated products such as desserts and continuously opening high-quality new stores with a profitability focus were also factors driving sales.”
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