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[Apha Biz=(Chicago) Reporter Paul Lee] GS Retail made an announcement on the 8th that its consolidated operating profit for the second quarter of this year was 97.2 billion won, up 94.5% from the same period last year.
During the same period, sales rose 5.3 percent to 2.9578 trillion won and net profit rose 19.0 percent to 53.6 billion won.
Sales of convenience store business units rose 7.1 percent to 2.919 trillion won and operating profit fell 2.5 percent to 65.2 billion won.
Sales increased due to an increase in new stores and increased demand for fresh food (kimbap, lunch boxes, sandwiches) and processed foods, but profits declined due to increased labor costs.
Super's sales rose 14.1 percent to 357.4 billion won and operating profit rose 4.1 billion won to 4.4 billion won due to an increase in operating points following the opening of new stores.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
