GS Retail Operating Profit Hits Quarterly Record of 132.1 Billion Won
Key Facts
GS Retail said on November 4 that consolidated operating profit reached 132.1 billion won in the third quarter of 2026, up 18.9% from a year earlier and the highest quarterly level in the company’s history. Consolidated sales rose 3.4% to 3.3143 trillion won, but net profit fell 44.7% to 49.9 billion won, highlighting the divergence between operating growth and the bottom line. The company said the operating figure was its “largest quarterly figure on record.” Performance varied across the group’s retail businesses, with the strongest gains coming from GS THE FRESH and GS Shop. By contrast, convenience-store chain GS25’s operating profit declined despite higher sales.
GS THE FRESH, the supermarket chain, posted record quarterly sales of 527.7 billion won, up 14.9% year on year. Its operating profit surged 159.8% to 23.9 billion won, also a quarterly record. The results report attributed the growth to new store openings and higher sales at existing stores. Quick-commerce sales, including delivery and pickup, also rose 52.2% during the quarter. For the first time, this business accounted for more than 10% of the chain’s total sales, adding to sales growth alongside network expansion and improved performance at existing branches.
In home shopping, GS Shop’s sales rose 2.3% to 253.2 billion won, while operating profit increased 108.6% to 24.2 billion won. The company linked the improvement in profit to strong sales of exclusive products, including cosmetics and fashion. The turnaround follows a third quarter of 2025 in which the business posted sales of 247.5 billion won, down 1.4% year on year, and an annual decline of 7.0 billion won in operating profit. The company then attributed weaker sales to a decline in television viewership and linked the lower profit to a decrease in gross profit. The latest performance marks a reversal in the business’s year-on-year results, with both sales and profit moving from declines in the comparable period to growth in the third quarter of 2026.
GS25 reported sales of 2.4743 trillion won, up 1.1% from a year earlier, while operating profit fell 8.1% to 78.2 billion won. Daily sales at existing stores rose 3.2%, and the chain’s sales to foreigners increased 69.4%. Its quick-commerce sales grew 86.9%, while higher fresh-food sales also supported revenue growth. The figures point to continued growth in the chain’s commercial activity alongside a contraction in operating profitability during the quarter. In comparison, in the third quarter of 2025 the convenience-store segment posted profit of 85.1 billion won, while the supermarket and home-shopping businesses recorded operating profits of 9.2 billion won and 11.6 billion won, respectively.
The group’s segment results in the third quarter of 2025 painted a different picture: convenience-store profit rose on higher sales, stable costs and improved performance at subsidiaries, according to a GS Retail disclosure. The company said at the time that growth in sales at existing stores and new store openings supported the business, alongside expansion focused on profitability. In supermarkets, sales rose 8.5% in the same quarter of 2025, with new franchise stores, expansion in quick commerce and growth in advance-order sales, but operating profit fell 4.7 billion won because of higher costs. Home-shopping sales also declined 1.4% during that period, and the company cited a drop in television viewership. The comparison shows that supermarkets and home shopping led profit growth in the third quarter of 2026 after both businesses saw lower profits in the year-earlier period, while GS25 now faces a profit decline despite sales growth.