Regarding GS Retail, Daishin Securities said on the 8th that the convenience store business will recover clearly from the fourth quarter of this year, adding that it seems to be a time when investment attraction is sufficient.
Investment opinion 'buy' and target stock price remained at 46,000 won.
"Operating profit rose 30 percent on-year in the third quarter due to home shopping consolidation," said Daishin Securities "Total sales and operating profit rose 16 percent and 30 percent to 2.742.5 trillion won and 102.5 billion won, respectively, from a year earlier.".
It is explained that operating profit has entered the increase section due to the effect of incorporating home shopping from the third quarter.
However, excluding the effects of home shopping, operating profit decreased by 6%. Convenience stores had a sluggish growth rate of existing stores due to shrinking external activities in July-August, but sales have been recovering in September due to favorable weather and an increase in outdoor activities.
As a result, the overall average growth rate of existing points in the third quarter will be similar to that of the previous year.
Daishin Securities said, "We have switched to the With Corona system since the fourth quarter due to the increase in vaccination rate," and analyzed, "Convenience store traffic is expected to recover smoothly.".
Reporter Lee Dong-hoon usinvestmentidea2020@gmail.com
