“Thank You Dubai Chocolate”… BGF Retail's Slight Increase in Q3 Operating Profit

Sales of 2.3256 trillion KRW, up 5.4%

BGF Retail, which operates convenience store CU, announced on the 7th that its consolidated operating profit for the third quarter of this year was tentatively estimated at 91.2 billion KRW, a 4.8% increase compared to the same period last year.

Sales increased by 5.4% to 2.3256 trillion KRW, but net profit decreased slightly by 0.1% to 69.9 billion KRW.

BGF Retail emphasized the significance of both sales and operating profit growth despite unfavorable weather and weakened consumer sentiment in July.

However, it explained that cumulative operating profit through the third quarter of this year declined compared to last year due to increased operating expenses such as selling and administrative costs and logistics expenses caused by the increase in the number of stores in the first half of the year.

BGF Retail's cumulative operating profit this year stands at 200 billion KRW, about 1% lower than 202.1 billion KRW last year.

BGF Retail analyzed, "Differentiated products leading industry trends, such as Dubai Chocolate, Fresh Fruit Highball, and the Teuktem series, became big hits driving sales growth," adding, "Continuous business efficiency improvements slowed the increase rate of fixed costs such as rent and labor costs, resulting in improved operating profit."