Coupang swings to Q3 loss on warehouse fire-related costs
Summary
Coupang reported a net loss of 715.1 billion won in the third quarter after a warehouse fire in Incheon in July added costs. The U.S.-listed e-commerce company also cited the continuing effects of a data breach as a factor weighing on earnings. Sales rose 11 percent year over year to 14.22 trillion won, while the company recorded its third consecutive quarterly net loss.
Key Facts
- Excluding costs related to the fulfillment center fire, Coupang’s net loss was 458.2 billion won.
- Product Commerce sales increased 8 percent to 11.95 trillion won, and active customers in the segment rose 2 percent to 25.2 million.
- Revenue from Developing Offerings, including Taiwan operations and Coupang Eats, grew 27 percent to 2.27 trillion won.
- Coupang repurchased $210 million worth of shares in the quarter under a board-approved $1 billion buyback program.
- Operating results shifted from a profit of 224.5 billion won in the third quarter of 2025 to a loss of 642.3 billion won.
Coupang headquarters in Seoul's Songpa District, Dec. 4, 2025 / Korea Times file
E-commerce giant Coupang, Inc. said Wednesday it swung to a net loss in the third quarter from a year earlier, largely due to costs caused by a warehouse fire.
In the three months that ended in September, the U.S.-listed company posted a net loss of 715.1 billion won ($501 million) from a net profit of 131.6 billion won in the same period last year, it said in a press release.
The fire at a Coupang Fulfillment Center (FC) in Incheon, about 30 kilometers west of Seoul, in July weighed on the company's quarterly earnings, it said.
The blaze was the second-longest-lasting warehouse fire in South Korea, following a 2021 fire at a Coupang distribution center in Icheon, some 50 km southeast of Seoul, which burned for about 130 hours.
Excluding FC fire-related costs, Coupang's net loss was 458.2 billion won, the company said.
Coupang has now reported net losses for three consecutive quarters this year, with the lingering fallout from a data breach also weighing on its earnings.
The U.S.-listed company, which generates most of its revenue in South Korea, has faced strong public backlash since disclosing in November 2025 a data breach that affected more than 37 million customers.
Sales in the Product Commerce segment, which represents its core online shopping business, rose 8 percent from a year earlier to 11.95 trillion won in the September quarter.
Revenue from the Developing Offerings segment, which includes its Taiwan operations and food delivery service Coupang Eats, increased 27 percent to 2.27 trillion won over the same period.
The number of active customers in the Product Commerce segment rose 2 percent from a year earlier to 25.2 million.
Coupang said it repurchased $210 million worth of its shares in the third quarter, following board approval of a $1 billion share buyback program earlier this year.
The company also swung to an operating loss of 642.3 billion won in the third quarter from an operating profit of 224.5 billion won in the same three months of 2025.
Sales, on the other hand, rose 11 percent to 14.22 trillion won from 12.85 trillion won a year earlier.
Explore More
- Q.
- Q.
- Q.