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THE INVESTOR
January 18, 2018

Stocks & Bonds

[EQUITIES] ‘Shinsegae will remain solid in 2018’

  • PUBLISHED :December 01, 2017 - 16:37
  • UPDATED :December 01, 2017 - 16:37
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[THE INVESTOR] Shinsegae will continue steady earnings next year as its department stores remain solid and duty-free stores recover, said Shinhan Investment on Dec. 1, raising the target price to 390,000 won (US$358.39) from 310,000 won.




Its fourth-quarter revenue will rise 12.5 percent on-year to 2.02 trillion won and operating profit by 30.6 percent to 137.9 billion won, maintaining a trend similar to the previous quarter which was been a high season, explained analyst Park Heui-jin.

The upturn will continue next year and revenue in 2018 will increase 8.6 percent on-year to 7.94 trillion won and operating profit by 12.2 percent to 371.6 billion won, estimated the analyst. 

The postponed closure of Incheon branch until end-2018 has eased concerns over earnings and although the closing of a major store is regretful, it has earned time for its duty-free sector to recover, noted Park maintaining a “buy” recommendation. 

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