April 20, 2024

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[THE INVESTOR] Shinsegae International will post strong earnings in the first quarter that will satisfy market expectations, said NH Investment and Securities on April 2, raising the target price to 115,000 won (US$108.64) from 94,000 won.

Revenue in the period will reach 303.1 billion won with operating profit of 8 billion won. Its domestic apparel business remains solid, and strong sales from duty-free stores and taking over high-end fragrance brand Dyptique has further boosted its earnings, said analyst Lee Ji-yeong.

Revenue from the cosmetics sector this year will leap 75 percent from last year to 70 billion won, since in addition to the brand acquisition, it will gain from Shinsegae Group’s expansion in cosmetics distribution channels, explained the analyst. 

Its lifestyle range JAJU will post 209.7 billion won revenue and 14.9 billion won operating profit, and will draw more attention as the group is tackling the home furnishing market in earnest having taken over Casamia, she added.

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