Shinsegae Food, No Brand Burger Franchise and Alternative Meat New Business Progressing Smoothly

[Asia Economy Reporter Hyungsoo Park] Hana Financial Investment forecasted on the 21st that Shinsegae Food's corporate value will increase as its new business progresses smoothly. The investment opinion 'Buy' and the target stock price of 140,000 KRW were maintained.

Sim Eunju, a researcher at Hana Financial Investment, explained, "It is understood that the number of 'No Brand Burger' franchise stores is close to 100 as of August," adding, "It is expected to exceed 100 by the end of the year."

She continued, "With the No Brand Burger franchise, manufacturing sales of patties, hamburger buns, lettuce, etc., are also growing simultaneously," and added, "Sales to Starbucks remain steady."

She said, "In July, a plant-based meat sandwich was launched at Starbucks," and analyzed, "Going forward, the sales area will be expanded to the B2C channel through portfolio expansion including ham and sausages."

Furthermore, she emphasized, "Bakery sales and profits will grow evenly as they are linked with dawn delivery."

This content was produced with the assistance of AI translation services.