[EQUITIES] Kiwoom Securities forecasts 9% operating profit decline for Lotte Shopping in Q2

[THE INVESTOR] Kiwoom Securities forecast Lotte Shopping will post underperforming second-quarter operating profit due to sluggish retail sector performance.

Operating profit was expected to fall 9.1 percent to 184.8 billion won (US$161.68 million), while sales will rise 3.3 percent to 7.64 trillion won.

The latest investigations into Lotte Homeshopping and closing of the duty-free shop in Lotte World Tower were cited as some of the factors weighing on the firm, in addition to the scandal over toxic humidifier disinfectants sold at local retailers including Lotte.

By Kim Ji-hyun (jemmie@heraldcorp.com)