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>For 3Q25, GS Retail reported above-consensus results, with revenue of W3.21tr (+5% YoY) and operating profit of W111.1bn (+32% YoY).</li><li>Same-store sales (SSS) growth at convenience stores reached +4.4%, far exceeding expectations and driving overall earnings growth.</li><li>With the convenience store business returning to growth, its share of consolidated operating profit expanded to 77% (from 61% in 1H25). </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>

For 3Q25, GS Retail reported above-consensus results, with revenue of W3.21tr (+5% YoY) and operating profit of W111.1bn (+32% YoY).Same-store sales (SSS) growth at convenience stores reached +4.4%, far exceeding expectations and driving overall earnings growth.With the convenience store business returning to growth, its share of consolidated operating profit expanded to 77% (from 61% in 1H25). 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)Efforts to Improve Fundamentals Accelerating