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[EQUITIES] SK Securities forecasts earnings turnaround for Shinsegae Int’l

By Korea Herald

Published : July 27, 2016 - 14:20

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[THE INVESTOR] SK Securities on July 27 forecast Shinsegae International will swing to the black in the second quarter of this year as it completes the withdrawal of Salomon, a money-losing clothing brand.

The brokerage expected operating profit rising 59.1 percent to 5.9 billion won (US$ 51.76 million) and sales increasing 6.1 percent to 240.9 billion on. 


These figures are higher than the market consensus of 3.4 billion won of operating profit and 237.9 billion won of sales.

Shinsegae International sells clothing brands, both domestic and from overseas.

By Kim Ji-hyun (jemmie@heraldcorp.com)

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