April 17, 2024

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[THE INVESTOR] Shinsegae International’s fourth-quarter earnings will be in line with market consensus, said Korea Investment and Securities on Dec. 17 maintaining a “buy” recommendation and 210,000 won (US$185.46) target price. 

Revenue in the period will increase 13 percent on-year to 364.1 billion won and operating profit will leap 53 percent to 24.1 billion won, significantly boosted by the cosmetics sector. Operating profit in 2019 will hike 34 percent from this year to 83 billion won. Revenue from the cosmetics division will rise to 290 billion won from this year’s 212 billion won and operating profit will jump 39 percent to 58 billion won, said analyst Na Eun-chae.

Having launched new products and expanded its lineup, it has slightly used up its momentum, but when sales of Vidi Vici and Yunjac visibly rise its stock price will rise to the next level, she said.

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