[Asia Economy Reporter Hyungsoo Park] Research Alom forecasted on the 30th that Shinsegae Food's profits will rapidly increase starting next year. The appropriate stock price was estimated at 85,000 KRW.
Choi Seonghwan, Senior Researcher at Research Alom, explained, "This month, we simultaneously opened 3 No Brand Burger franchise stores" and "Next month, we will additionally open 20 franchise stores."
He added, "Due to the impact of the novel coronavirus infection (COVID-19), the opening of the first franchise stores was delayed compared to the initial expectation," but "the target number of store openings has been doubled compared to the original plan."
He emphasized, "The total number of No Brand Burger stores will increase from 70 this year to 190 next year," and "With over 2,000 cumulative inquiries from entrepreneurs, opening 10 stores per month is a conservative figure."
Researcher Choi said, "The Global Big Data Institute conducted big data analysis over the past three months on 220,000 sites across 12 channels including Facebook and Instagram," and explained, "No Brand Burger ranked first in consumer favorability among the 'Big 5' hamburger companies."
He analyzed, "No Brand Burger has sufficient potential to increase the average annual sales per store," and "Some stores currently offering delivery services have seen sales growth, so there are plans to introduce delivery services to all stores."
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