New World, Duty Free ... Starting deficit reduction in 2018 is uncertain - Meritz

[Korea nine hyerin financial newspaper reporter] Meritz Investment Bank Securities predict the short-term earnings momentum of the recovery in the New World Duty Free deficit reduction had raised its price target to 22 from the existing ₩ 190,000 million. Recommendation kept short-term buying.

The yangjihye Institute of securities is said "scores of Chinese entrants can slow down even a consolidated subsidiary Shinsegae DF (duty-free) with high sales growth (1Q11 W240bn estimate), while rising fast two days sales, '' losses is 15 billion won in 4Q the reduction compared to the first quarter loss of 100 million is expected, he said.

DF is passed to the New World in January recorded a turnover 75 billion won, operating profit of 1.2 billion won.

Sheep researchers' This headquarters gongtongbi (advertising promotion expenses, labor costs, etc.) are likely to have value, but the fourth quarter compared to deficit reduction reflected is high, said, "If this trend led Based on the second quarter and third quarter, the low base last year, the high increase in the previous year quarter consolidated operating profit is expected, he said.

However, the effects department store openings in the second half is expected to be slow.

Yang Researchers' 2 as branch expansion and opening effect of slowing from a separate reference earnings momentum is expected to gradually weaken, said, "The overall department store consumption recovery and mitigation competitive strength in our shop with a luxury brand lineup to contribute profits mean extra it needs to be supported, he said.

He added, "incheonjeom withdrawal from the 2018 results and the uncertainty of the new duty-free shops open Gangnam is still limited upside due to the high profitability recovery rate because the situation is expected.



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Meritz Investment Bank Securities, fingerprint authentication services extended to all smartphone

[Korea goyounghun financial newspaper reporter] Tong of Meritz Securities said that applying this service even after 27 days from iPhone to Android phones started together Bio Fingerprint authentication service one last one.

This was so that all smartphones Customers can take advantage of a bio-certified services over the fingerprint instead of the previous certificate. Bio authentication service can use an unlimited period of time without a valid certificate, unlike, is characterized by omitting the additional password input procedure, unlike the previous certificate.

Meritz SMART (MTS) if the customer uses the app all, you can use directly After registering their fingerprint on the bottom of the screen, select the apps after the initial 'certification center' 'bio-certification center. After fingerprint registration can be used to select the 'bio-certification' from the 'Select Authentication Method' at login.

Meritz Securities Investment Bank plans to develop a fingerprint authentication in addition to this authentication services using a variety of biometric data in the future, improve customer convenience. Detailed usage can be found at Meritz Investment Bank securities or a smartphone app 'Meritz SMART app.



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