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[Alpha Biz=(Chicago) Reporter Paul Lee] Sangsangin Securities lowered its target price from 26,000 won to 22,000 won on the 7th, saying, "This year's sales growth is expected to be somewhat limited." The investment opinion 'buy' was maintained.
"Although we plan to continue to introduce the brand this year, sales growth is expected to be limited if it is considered at the latest level," said Sangsangin Securities Co. "However, we expect profitability to expand due to streamlining marketing costs and improving sales mix in the sector."
The fourth quarter of last year was sluggish due to one-off costs. Shinsegae International said the previous day that it recorded consolidated sales of 392.5 billion won and operating profit of 14.1 billion won in the fourth quarter of last year.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
