[Click eStock] This Company Achieves SpaceX-Level Earnings Growth

IBK Investment & Securities Raises Hyundai Department Store Target Price
from 130,000 Won to 250,000 Won

On June 18, IBK Investment & Securities maintained its "Buy" rating on Hyundai Department Store and raised its target price to 250,000 won.

Nam Sung-hyun, a researcher at IBK Investment & Securities, stated, "Second-quarter results are expected to far exceed expectations," describing it as "SpaceX-level earnings growth." Nam forecasted Hyundai Department Store's consolidated net sales for the second quarter at 1.1953 trillion won and operating profit at 112.1 billion won. These figures represent increases of 10.6% and 29%, respectively, compared to the same period last year.

He explained that the main reason for the significantly improved second-quarter outlook is the strong performance of the department store division. The existing store growth rate is expected to reach the mid-10% range, and robust, balanced growth across all product categories—including luxury goods, apparel, fashion, and accessories—is expected to more than offset the underperformance of Zinus. Additionally, he projected that strong duty-free performance would also contribute. Nam stated, "The duty-free business division is seeing a rapid improvement in profitability at downtown duty-free stores due to the inflow of foreign visitors, and profit growth from the operation of the airport DF2 location is also anticipated."

He also expected profit growth to accelerate further in the second half of the year. Nam emphasized, "We anticipate improved results as efficiency measures at Zinus are completed, continued growth momentum at the department store, expansion at Incheon Airport duty-free stores, and further growth potential at The Hyundai Global."

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