Ace Bed, demand for high-end products grows... Furniture sales increase (IBK Investment & Securities)

IBK Investment & Securities expected a good performance for Ace Bed in the first quarter of this year. The securities firm maintained its Investment opinion of 'Buy' and the target price at 57,000 won.

"Ace Bed will record good performance in the first quarter. The bed sales by business sector increased year-on-year to 65.6 billion won. This is because operating leverage due to COVID-19 is not significant even in offline branches. However, sales in the furniture sector also increased by 26.8% year-over-year to 5.2 billion won." The securities firm said.

The securities firm analyzed that the demand for high-end products of Ace Bed is increasing due to the recent interest in expensive furniture.

Reporter Lee Dong-hoon usinvestmentidea2020@gmail.com