April 26, 2024

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[THE INVESTOR] GS Home Shopping beat market expectations in the second quarter, said Korea Investment and Securities on July 31, maintaining a “buy” recommendation and 226,000 won (US$202.24) target price.

Its operating profit in the period came in at 30.2 billion won as sales of higher-margin apparel and home appliances increased and pushed profitability of the whole company, said analyst Heo Na-rae. 

Sales through the TV shopping channel and website have declined but it has preemptively prepared itself for the mobile era. Online sales contributes over 50 percent and will continue to rise. Stable net cash structure will allow it to maintain a high dividend rate as well, she noted. 

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