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THE INVESTOR
April 04, 2020
Big Reunion

Stocks & Bonds

[EQUITIES] ‘Shinsegae Int’l to pick up’

  • PUBLISHED :October 01, 2018 - 11:34
  • UPDATED :October 01, 2018 - 11:34
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[THE INVESTOR] Shinsegae International’s profits will improve, said NH Investment and Securities on Oct. 1, raising the target price to 300,000 won (US$269.86) from 250,000 won. 




Its cosmetics ODM subsidiary Shinsegae Intercos Korea reached break-even point in end-August and will be able to contribute to the corporate value. Its own cosmetics brands Vidi Vici and Yunjac, an Oriental herb-based range, are manufactured by the subsidiary. Through vertical integration it is maximizing profits and strengthening synergies, said analyst Lee Ji-yeong.

Despite its solid performance in beauty sector, earnings in the third quarter will be slightly below expectations, with 291.3 billion won revenue and 11.1 billion won operating profit, as domestic apparel division including Tomboy struggles, she said. 

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

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