[Special Stock] Lotte Shopping Continues Three-Day Rally on Strong Q4 Earnings
[Asia Economy Reporter Song Hwajeong] Lotte Shopping is showing strength following strong performance in the fourth quarter of last year.
As of 9:10 AM on the 9th, Lotte Shopping was trading at 121,500 KRW, up 5,500 KRW (4.74%) from the previous day. This marks the third consecutive day of gains.
The previous day, Lotte Shopping announced that its operating profit for the fourth quarter of last year was 181.5 billion KRW, a 316.8% increase compared to the same period last year. Sales revenue was 3.8477 trillion KRW, down 10.8% year-on-year.
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Lee Ji-young, a researcher at NH Investment & Securities, said, "Thanks to definite cost reductions in the fourth quarter, most business divisions recorded surprising earnings (earnings surprise)," adding, "This year, the combined effects of past restructuring and post-COVID-19 consumption recovery will result in a strong earnings turnaround." NH Investment & Securities upgraded Lotte Shopping's investment rating from 'Hold' to 'Buy' and raised the target price from 97,000 KRW to 152,000 KRW.
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