BGF Retail（CU便利店）Q2营业利润同比增长22.3%至849亿韩元

BGF Retail (282330), the operator of convenience store chain CU, reported second-quarter operating profit of 84.9 billion won on a consolidated basis, up 22.3% from a year earlier, the company said in a regulatory filing on the 6th. Revenue over the same period rose 6% to 2.4268 trillion won.
The company said that while it incurred one-time costs from a logistics strike, profitability improved as sales growth at existing stores expanded. Favorable weather conditions, high fuel price relief payments, and an increase in foreign tourists also drove the earnings improvement, the company explained.
Restructuring its product mix around food products also led to improved profitability. The share of cigarettes in total sales declined, while the proportion of food and processed food edged up. As a result, the average product margin also improved.
A store strategy that segments customer bases contributed to expanding customer traffic. BGF Retail is expanding grocery-focused stores targeting one- and two-person households and introducing "Smart Grocery" to strengthen its push for short-distance grocery shopping demand.
The company also introduced stores specializing in tourism products for visitors to Korea, as well as stores selling overseas ingredients targeting foreign residents in Korea. By differentiating its product mix according to the purpose of stay and consumption tendencies of foreign customers, the company broadened its channels for attracting new customers, according to the explanation.
"We continued solid growth based on a favorable business environment, strong sales of differentiated products, and a store strategy tailored to each customer segment," a BGF Retail official said. "Going forward, we will continue qualitative growth by enhancing product competitiveness and store operation efficiency."