[Featured Stock] Daegu Department Store Decides on 'Public Sale'... Stock Price Surges 14.43%

The stock price of Daegu Department Store, which decided to conduct a public sale to secure liquidity, is showing strength.

As of 9:09 a.m. on the 29th, Daegu Department Store is trading at 6,740 won on the KOSPI market, up 850 won (14.43%) from the previous trading day.

Daegu Department Store, which is experiencing management difficulties, will publicly sell its main store, outlet, and logistics center to secure liquidity.

The sale targets are the main store in Dongseong-ro, Jung-gu, Daegu, which closed in July 2021, the Daebak Outlet in Sincheon-dong, Dong-gu, leased to Hyundai Department Store, and three logistics centers in Sinseo-dong, Dong-gu.

Established in 1944, Daegu Department Store, along with Donga Department Store sold to E-Land Group in 2010, had dominated the Daegu retail industry. However, its position began to shake as large department stores such as Lotte Department Store in 2002, Hyundai Department Store in 2011, and Shinsegae Department Store in 2016 successively entered Daegu.

Since 2016, it has recorded operating losses on a consolidated basis for eight consecutive years, facing management difficulties, and in the first half of this year, it recorded an operating loss of 6.17 billion won and a half-year net loss including financial costs of 13.324 billion won on a consolidated basis.