BGF Retail Reports Q1 Operating Profit of 37 Billion KRW, Down 2.1% YoY (Comprehensive)

Last Year, Self-Diagnosis Kits Exceeded Baseline

BGF Retail announced on the 2nd that its consolidated operating profit for the first quarter of this year was tentatively estimated at 37 billion KRW, a 2.1% decrease compared to the same period last year.

Sales increased by 9.3% from the same period last year to 1.8496 trillion KRW, and net profit rose by 6.5% to 27.7 billion KRW.

BGF Retail explained that its separate operating profit increased by 1 billion KRW year-on-year to 39.8 billion KRW, surpassing last year's base from self-diagnostic kits, and that the decrease in consolidated operating profit was due to proactive logistics investments and increased operating costs at subsidiaries compared to the peak season.

BGF Retail stated, “Since the reopening (resumption of economic activities), we have maintained stable sales growth due to increased face-to-face activities and foot traffic. In particular, CU’s differentiated products in beverages, desserts, and convenience foods hold a competitive edge and are driving solid performance. We will lead trends as the industry leader by attracting more customers through ultra-low-priced product launches and discount promotions tailored to the high inflation era.”