April 19, 2024

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[THE INVESTOR] Hanssem’s growth momentum in will weaken in the second quarter, said Korea Investment and Securities on June 22 but maintained a “buy” recommendation and 280,000 won target price. 

Revenue from its two directly operated stores that opened last year has increased but it is hard for existing outlets to post growth, said analyst Lee Gyeong-ja. 

Rehouse, its house refurbishing unit has slowed down slightly, and two out of three branches slated to open in the second quarter were postponed to the next quarter, said the analyst. 

Although the timeline is unclear, Rehouse is the furniture company’s growth engine and it will become clear when the product development and execution systems are stabilized, added Lee.

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