[Special Stock] 'Weak Apparel Consumption' F&F Down 4.10%

F&F's stock is weak as sales continue to decline due to sluggish fashion consumption in Korea and China.

As of 9:53 a.m. on the 15th, F&F was trading at 63,100 won, down 2,700 won (4.10%) from the previous trading day.

On the same day, SK Securities lowered its target price for F&F from 90,000 won to 84,000 won, stating, "We are lowering our earnings estimates for this year and next year." The buy rating was maintained.

Hyung Kwon-hoon, a researcher at SK Securities, explained, "The earnings expectations continue to decline, raising questions about the company's fundamental strength," adding, "Fashion consumption is sluggish in both domestic and Chinese markets due to the macroeconomic environment." He forecasted that the company's third-quarter results this year would show sales of 480.6 billion won and operating profit of 130.3 billion won, down 2.5% and 12.3% respectively from the same period last year, falling short of the market consensus.