April 26, 2024

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[THE INVESTOR] Shinsegae International’s profits in the third quarter will decline, said NH Investment and Securities on Sept. 21, lowering the target price to 74,000 won (US$65.32) from 100,000 won.

Its revenue in the period will barely come to 260 billion won with operating profit of 300 million won, as the retail sector remains sluggish and online shopping mall continue to make losses, estimated analyst Lee Ji-yeong.

Its online mall will manage to break even in the latter half of next year while newly acquired French fashion house Paul Poiret will only begin full operations next year and will remain in red, forecast the analyst. 

She maintained a “buy” recommendation, though, saying that it is the unrivaled importer of international brands, and market share will expand.

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