[
THE INVESTOR] NH Investment & Securities forecast local retailer
E-mart will post earnings below market estimates in the second quarter.
On a consolidated basis, the Shinsegae Group affiliate’s sales were expected to rise 8 percent to 3.92 trillion won (US$3.41 billion), with operating profit rising 0.4 percent to 66 billion won.
However, the figures fall below the market consensus of 70.9 billion won operating profit.
E-mart’s offline store growth fell 0.5 percent in the second quarter. One of the factors weighing on the performance was a decline in household goods on the back of a scandal involving toxic sterilizers.
By Kim Ji-hyun (
jemmie@heraldcorp.com)