[Market Focus] GS Retail Rises 4.58% on Strong Convenience Store Earnings

GS Retail's stock price is showing strength, supported by strong performance in its convenience store division.

As of 11:11 a.m. on October 28, GS Retail was trading at 18,270 won, up 800 won (4.58%) from the previous trading day.

On this day, Mirae Asset Securities stated that "valuation pressures, such as weakened competitiveness in the convenience store sector and uncertainties in other businesses, have eased, and upward revisions to earnings estimates have also been reflected." The firm upgraded its investment rating from neutral to buy and raised its target price from 15,000 won to 22,000 won.

GS Retail's operating profit for the third quarter is expected to reach 98 billion won, a 22% increase compared to the same period last year, surpassing market expectations. Bae Songyi, a researcher at Mirae Asset Securities, said, "The core convenience store business saw profit growth for the first time in six quarters, thanks to proactive store efficiency measures. Losses in other inefficient business segments have also been reduced, leading to a qualitative improvement in overall performance."

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