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The Korea Herald
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THE INVESTOR
March 28, 2024

Stocks & Bonds

[EQUITIES] ‘Not much room for Lotte Shopping to rise’

  • PUBLISHED :August 22, 2017 - 20:26
  • UPDATED :August 22, 2017 - 20:26
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[THE INVESTOR] Lotte Shopping will need more time before its earnings begin to improve, said Hana Financial Investment on Aug. 22, lowering the target price to 300,000 won (US$264.04) from 350,000 won. 




Its second-quarter earnings were a shock even factoring in the one-off costs, said analyst Park Jong-dae. Operating profit from domestic department stores dropped 45 percent on-year and loss from discount stores in China where it had to suspend business, also seriously dented the earnings, said the analyst, adding that the retailer’s earnings will improve only after the inbound tourism from China recovers.

Lotte Shopping’s stock price has risen significantly in accordance with the series of news on improving governance structure, and the only remaining momentum will be additional floatation of its affiliates, noted Park, but maintained a “buy” recommendation on condition of adjustment. 

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

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