External broker reports(aggregated public sources), Mirae Asset Securities

Mirae Asset Securities

Leading full-service brokerage firm in Vietnam. 

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External broker reports(aggregated public sources)

Equity Bottom-Up

<ul><li>We expect GS Retail to post above-consensus 3Q25 results, with revenue of W3.15tr (+3% YoY) and operating profit of W98bn (+22% YoY).</li><li>We believe the company saw qualitative improvement in the quarter, with the core convenience store business posting profit growth for the first time in six quarters and losses in inefficient “other” businesses narrowing.</li><li>For convenience stores, we estimate revenue at W2.37tr (+3% YoY) and operating profit at W75.1bn (+3% YoY; OP margin of 3.2%).</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

We expect GS Retail to post above-consensus 3Q25 results, with revenue of W3.15tr (+3% YoY) and operating profit of W98bn (+22% YoY).We believe the company saw qualitative improvement in the quarter, with the core convenience store business posting profit growth for the first time in six quarters and losses in inefficient “other” businesses narrowing.For convenience stores, we estimate revenue at W2.37tr (+3% YoY) and operating profit at W75.1bn (+3% YoY; OP margin of 3.2%).Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

GS Retail (007070 KS/Buy)Convenience Store Competitiveness Recovering; Earnings Forecasts Revised Up