SK Stoa Q1 Operating Profit 1.3 Billion Won... Turned Profitable in One Quarter
Operating Profit Grows 370% Compared to Same Period Last Year
Data-driven home shopping company SK Stoa has shaken off its poor performance of operating losses in the fourth quarter of last year and succeeded in turning a profit in the first quarter of this year.
SK Stoa announced on the 8th that its operating profit in the first quarter of this year recorded 1.3 billion KRW, growing approximately 370% compared to the same period last year. This is a 367% increase from 280 million KRW in the first quarter of last year. In this regard, SK Stoa explained that scheduling product broadcasts focused on high efficiency and strengthening the product portfolio helped improve operating profit.
The performance improvement was mainly due to enhancing efficiency by strengthening sales of high-efficiency products such as seasonal items like spring and summer (SS) season women's clothing, exclusive products, new products, as well as health foods, fashion, and travel.
SK Stoa plans to continuously improve profitability through fundamental structural improvements, even at the cost of short-term financial impact. First, it plans to strengthen mobile content and TV apps and increase investments in customer relationship management (CRM) and supply chain management (SCM) improvements. Additionally, it has revamped the design for customer shopping convenience and introduced special filming equipment for demonstration-focused sales videos. Currently, projects to improve mobile-centered studios are also underway, and efforts are being focused on streamlining work processes through AI technologies such as AI voice actors and AI copywriters.
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Park Jeong-min, CEO of SK Stoa, said, "We will continuously strive to place both TV and mobile sectors on a solid growth track," adding, "We will differentiate ourselves as 'AI Commerce' by enhancing product scheduling efficiency based on data and AI technology."
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