Coupang swings to Q3 loss on warehouse fire-related costs
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…
E-commerce leader Coupang, Inc. reported a net loss for the third quarter, marking a stark contrast to the previous year's profit. The U.S.-listed company posted a loss of 715.1 billion won ($501 million) in Q3, compared to a net profit of 131.6 billion won in the same period a year ago. The fire at a fulfillment center in Incheon, about 30 kilometers west of Seoul, significantly impacted the company's earnings.
This fire, the second-longest lasting in South Korea, following a 2021 fire in Icheon, lasted for 130 hours. Coupang has now reported three consecutive quarters of net losses this year, with the effects of a data breach also adversely affecting its finances. The company, primarily generating revenue in South Korea, has faced strong public criticism since disclosing a data breach in November 2025 that impacted over 37 million customers.
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- Coupang swings to Q3 loss on warehouse fire-related costs koreatimes.co.kr
- (LEAD) Coupang swings to Q3 loss on warehouse fire-related costs en.yna.co.kr
