[Click eStock] "Emart, Sales Exceed Market Expectations... Target Price Up 11%"

[Asia Economy Reporter Park Jihwan] Kiwoom Securities stated on the 15th that Emart's September sales overall exceeded market expectations, maintaining a 'Buy' investment rating and raising the target price by 10.53% from the previous 190,000 KRW to 210,000 KRW.

Park Sangjun, a researcher at Kiwoom Securities, said, "Emart's September sales announced yesterday generally surpassed market expectations," adding, "Considering the difference in the Chuseok holiday timing, the combined growth rates for August and September for discount stores and Traders recorded 4.9% and 22.8%, respectively."

There is also an expectation of a reflective benefit from the restructuring of the discount store industry and the growing prominence of SSG.com’s growth potential.

Researcher Park Sangjun emphasized, "Thanks to the reflective benefits from competitors' store restructuring, alleviation of labor cost burdens, and the results of store restructuring and renewal, the performance recovery of discount stores and specialty stores is gaining momentum."

He added, "In particular, discount stores, which had experienced continuous sales declines, have re-entered a virtuous cycle due to the positive turnaround in existing store growth rates, and specialty stores are expected to turn profitable next year."

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