11st, Q3 Operating Loss of 36.4 Billion KRW... "Improved Compared to Previous Quarter"

Quarterly Record High Sales of 189.9 Billion Won

[Asia Economy Reporter Lim Chunhan] 11st announced on the 14th that it achieved its highest quarterly sales, driven by the growth of its new growth engine, the next-day delivery service "Shooting Delivery."

According to SK Square's quarterly report and IR materials, 11st's sales in the third quarter of this year reached 189.9 billion KRW, a 43% increase compared to the same period last year. Compared to the previous quarter, it increased by 34%, marking the highest quarterly sales since the establishment of the independent corporation in 2018. The net profit for the third quarter recorded 2.4 billion KRW due to a one-time corporate tax income, and the operating loss improved by 8.7 billion KRW from the previous quarter to 36.4 billion KRW.

11st cited the growth of the next-day delivery service through Shooting Delivery as the reason for the sales growth. The transaction amount of Shooting Delivery in the third quarter increased 3.9 times compared to the second quarter, the average monthly number of users increased by 46%, and the purchase amount per person increased by 166%. The growth of Shooting Delivery is expected to accelerate further with the year-end shopping season approaching. 11st plans to maximize the operational efficiency of logistics centers and focus on stable operations to meet the increased demand.

11st is focusing on strengthening competitiveness through investment in new growth engines and the introduction of differentiated services this year. Amazon Global Store enhanced shopping benefits by launching the Uju Pass Slim annual membership in September, and at the end of last month, it launched Moneyhanjan, a MyData service that helps customers make wise consumption decisions, the first of its kind in e-commerce.

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