April 20, 2024

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[THE INVESTOR] Shinsegae International will post solid earnings in the first quarter across the company, said NH Investment and Securities on April 19, maintaining a “buy” recommendation and 100,000 won target price (US$87.74). 

Its revenue will reach 269 billion won and operating profit 8.4 billion won in the period, estimated analyst Lee Ji-yeong. Imported brands are recovering and recent addition of Chloe and Paul Smith to the range are showing positive results, said the analyst. 

In the domestic market, its own label is on the rise and will turn to black with 1.2 billion won operating profit. The lifestyle division’s profits are improving as well, noted Lee, maintaining its “most favorable” rating. 

By Hwang You-mee (glamazon@heraldcorp.com)