Seoul: GS Retail Co. on Thursday reported its third-quarter net loss of 63.1 billion won (US$45 million), shifting from a profit of 71.9 billion won a year earlier. The company's financial performance marks a significant downturn compared to the previous year's third quarter results. According to Yonhap News Agency, the company detailed in a regulatory filing that it posted an operating profit of 80.6 billion won for the quarter. This figure represents a decrease from the operating profit of 106.2 billion won recorded in the same period last year. Despite the decline in profit, sales experienced a growth of 3.7 percent, reaching 3.05 trillion won. The shift from profit to loss highlights the challenges faced by GS Retail in maintaining its profitability amidst changing market conditions. The decline in operating profit, alongside the increase in sales, suggests a complex financial landscape for the company in the recent quarter.