BGF Retail Reports Slight Decline in Fourth-Quarter Net Income

BY admin

SEOUL — BGF Retail Co., a leading retail company, announced a 5.4 percent decrease in its fourth-quarter net income, totaling 38.6 billion won ($29.1 million).

According to Yonhap News Agency, the operating profit for the quarter was slightly down at 51.1 billion won from 52.3 billion won the previous year. However, revenue experienced a positive uptick of 4.7 percent, reaching 2.04 trillion won. Notably, the company’s financial results surpassed market expectations, with the average net profit estimate by analysts being 36.2 billion won, as reported by Yonhap Infomax.

This performance indicates resilience in BGF Retail’s operations, managing to exceed analyst expectations despite a marginal fall in net income, underscoring the company’s ability to navigate the retail market’s challenges effectively.

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