[Special Stock] Jinus Falls Over 5% Amid Shift to Deficit

Jinus, an affiliate of Hyundai Department Store Group that turned to a deficit last year, is weak on the 6th.

As of 9:43 a.m. on this day, Jinus shares are trading at 20,600 won, down 5.29% from the previous trading day.

It is interpreted that the disclosure yesterday reporting an operating loss of 5.309 billion won last year had an impact. Jinus recorded an operating profit of 18.342 billion won in the same period of the previous year. Last year's sales decreased by 3.3% compared to the same period of the previous year to 920.399 billion won, and a net loss of 6.8 billion won was recorded. The delay in new product shipments due to customers' existing inventory depletion and increased promotional expenses to clear Big Box products are cited as causes.

Since being acquired by Hyundai Department Store Group in 2022, Jinus has shown a decline in performance. Sales, which were 1.1596 trillion won in 2022, decreased to 952.3 billion won the following year, and operating profit sharply fell from 65.6 billion won to 18.3 billion won during the same period. Last year, it returned to a deficit by recording operating losses consecutively in the first and second quarters. However, in the second half of the year, it achieved good results by normalizing orders from major customers, partially recovering from the sluggish first half.

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