7-Eleven Malaysia hits all time sales record

7-Eleven Malaysia set a full-year sales record last year after revenue rose 6.4 percent to $33.76 billion.

Much of the growth came from network expansion, but same-store sales rose 2.5 percent, despite declining cigarette sales. The company opened 165 new stores last year, 41 of those in the last quarter, taking its network to 2411. Other factors were higher footfall and an increase in the average transaction. Fresh-food sales grew more than 28 percent year on year.

Profit attributable to shareholders was up 5.4 percent.

7-Eleven Malaysia CEO Colin Harvey said the company had kept costs in check, reducing them from 29 percent of turnover to 28.4 percent, despite an increase in the minimum wage.

“We are confident that continuous implementation and improvement of our strategic roadmap in strengthening the key areas of assortment, supply chain, operational excellence, store base and digitally enabling the organization will continue to deliver positive results despite challenging headwinds,” he said.