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THE INVESTOR
December 16, 2018
Big Reunion

Stocks & Bonds

[EQUITIES] ‘Shinsegae’s biz remains stable’

  • PUBLISHED :December 07, 2018 - 11:45
  • UPDATED :December 07, 2018 - 11:45
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[THE INVESTOR] Shinsegae will maintain stable growth in department store and duty-free businesses, said NH Investment and Securities on Dec. 7 maintaining a “buy” recommendation and 460,000 won (US$411.41) target price. 




Revenue from imported luxury goods, premium household electronics and contemporary fashion is showing double-digit growth and propelling the income of its department store sector. Duty-free stores are sailing as well and commission rate has stabilized from the third quarter. The sector will generate 4.3 trillion won revenue in 2019, said analyst Lee Ji-yeong.

Combined online operations, set to commence next year, will also serve as a momentum as joint marketing with E-mart Mall will allow it to absorb its clients. Inbound tourism from China will surge over 40 percent in 2019 and a new duty-free store will normalize promptly adding value to the company, added the analyst. 

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

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