[Edaily Reporter Han Jeon-jin ] BGF Retail(282330), operator of the CU convenience store chain, continued to post growth in both revenue and operating profit in the third quarter of this year. Strong sales to foreign tourists, coupled with robust sales of processed foods and the company’s own differentiated products, underpinned these results.

BGF Retail announced on the 5th that it recorded consolidated revenue of 2.5152 trillion won and operating profit of 100.8 billion won in the third quarter of this year. These figures represent year-over-year increases of 2.1% and 3.2%, respectively. Both revenue and profitability improved despite an unfavorable business environment, including the base effect from last year’s consumer coupons and the summer heatwave. Cumulative revenue for the first three quarters of this year rose 4.3% to 7.0624 trillion won, while operating profit increased 18.0% to 223.8 billion won.

In particular, the growth in sales from foreign tourists was notable. The year-over-year growth rate of foreign sales—based on overseas payment methods and prepaid cards for foreign visitors—rose for three consecutive quarters, reaching 53.3% in the first quarter, 60.9% in the second quarter, and 66.8% in the third quarter. The increase in foreign sales accounted for 35.5% of the total sales growth at stores in the third quarter. The share of total sales attributable to foreign tourists also expanded from 1.5% last year to 2.5% this year.

Processed foods and differentiated products also drove sales growth. Products featuring popular intellectual property (IP), such as the idol group “Lysenne,” as well as coffee candies and truffle ham snacks, saw strong sales. Consequently, while the share of tobacco in total sales decreased by 0.4 percentage points year-over-year, the share of processed foods increased by 0.7 percentage points. The growing sales share of general merchandise—which is relatively more profitable—also contributed to an improvement in gross profit margins.

BGF Retail is also strengthening the competitiveness of its stores in tourist districts to meet growing demand from foreign visitors. The company has introduced instant tax refund services and unmanned currency exchange kiosks, and has differentiated its product mix and promotional strategies by leveraging sales data specific to each tourist destination. Regarding new store openings, the company is continuing its strategy of selectively expanding, focusing on high-profitability stores, and increasing the proportion of medium- to large-sized stores.

BGF Retail plans to continue expanding its differentiated product lines—such as IP collaboration products and processed foods—while strengthening the operation of specialized stores targeting foreign tourists.

A BGF Retail official stated, “The increase in foreign customers and strong sales of differentiated products, particularly processed foods, drove the improvement in third-quarter performance,” adding, “We plan to continue stable growth by focusing on profitability-driven store operations and strengthening product competitiveness.”