[
THE INVESTOR] The outlook for growth of the convenience store industry is grim and is reflected in the value of
BGF Retail, said Mirae Asset Daewoo on Jan. 17, lowering the target price to 115,000 won (US$97.10) from 250,000 won.
Its 2016 fourth-quarter revenue rose 13.2 percent on-year to 1.28 trillion won and operating profit 27.3 percent to 45.3 billion won, estimated analyst Lee Jun-ki.
“The number of convenience stores increased by 348 and their revenue was stable with 5 percent growth rate,” said the analyst.
“The number will increase by 940 this year and revenue and operating profit will increase by 11.1 percent and 23.3 percent on-year, respectively.”
By Hwang You-mee (
glamazon@heraldcorp.com)