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[EQUITIES] NH Investment expects E-mart’s Q2 earnings to fall below estimates
By Korea HeraldPublished : July 15, 2016 - 09:41
[THE INVESTOR] NH Investment & Securities forecast local retailer E-mart will post earnings below market estimates in the second quarter.
On a consolidated basis, the Shinsegae Group affiliate’s sales were expected to rise 8 percent to 3.92 trillion won (US$3.41 billion), with operating profit rising 0.4 percent to 66 billion won.
However, the figures fall below the market consensus of 70.9 billion won operating profit.
E-mart’s offline store growth fell 0.5 percent in the second quarter. One of the factors weighing on the performance was a decline in household goods on the back of a scandal involving toxic sterilizers.
By Kim Ji-hyun (jemmie@heraldcorp.com)
On a consolidated basis, the Shinsegae Group affiliate’s sales were expected to rise 8 percent to 3.92 trillion won (US$3.41 billion), with operating profit rising 0.4 percent to 66 billion won.
However, the figures fall below the market consensus of 70.9 billion won operating profit.
E-mart’s offline store growth fell 0.5 percent in the second quarter. One of the factors weighing on the performance was a decline in household goods on the back of a scandal involving toxic sterilizers.
By Kim Ji-hyun (jemmie@heraldcorp.com)
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Articles by Korea Herald
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