Oasis Market Posts 6.95 Billion Won Q2 Operating Profit, Up 96% YoY

Sales Decrease by 8%
Cost of Goods Sold Ratio Reduced by 3.50 Percentage Points

Oasis Market announced on August 14 that its operating profit for the second quarter of this year increased by 95.5% year-on-year to 6.95 billion won.

During the same period, sales declined by 8% to 137.1 billion won, while net profit rose by 28% to 5.5 billion won.

For the cumulative results in the first half of the year, operating profit was 15.2 billion won, up 55.3% from the first half of last year, and sales totaled 276.3 billion won, a 3% decrease. The operating margin for the first half stood at 5.5%.

An Oasis Market representative stated, "Our strategic decision to shift away from sales volume competition and focus on solidifying our fundamentals had a significant impact," adding, "We avoided excessive discount marketing and expansion at a loss, while strengthening our business foundation by increasing the share of our private brand (PB) and competitively priced product categories."

Additionally, Oasis Market explained that it secured fundamental cost competitiveness by reducing its cost of goods sold ratio by 3.50 percentage points year-on-year through direct sourcing of excellent products. The company also reduced selling and administrative expenses by 5.1% compared to the same period last year by automating inventory management and optimizing logistics routes through its in-house logistics solution, 'Oasis Route.'

Oasis Market continues to pursue efficient growth primarily through its online channel, while accelerating online-offline synergy creation by advancing and digitizing its offline stores. The AI self-checkout system 'Route' is being rolled out sequentially to all stores, with seven stores currently equipped with the technology.

The Oasis Market representative emphasized, "In the second quarter, rather than focusing on outward growth, we strengthened our fundamentals through sound management practices. Moving forward, we will further solidify our profitability through retail tech innovations such as our unrivaled logistics automation solutions and the expansion of AI unmanned stores."

This content was produced with the assistance of AI translation services.