7-Eleven Malaysia’s profit up 10 per cent year on year
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7-Eleven Malaysia’s profit surged 10 percent year on year in the third quarter.
Figures released by the firm showed sales growth of 4.5 percent during the quarter and a 5.1-percentage point improvement in gross profit margin.
The firm opened 53 new stores during the period, taking the total network to 2382 stores.
7-Eleven Malaysia’s profit improvement looks set to continue in quarters. “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 as we look forward to ensuring that 7-Eleven remains as Malaysian consumers preferred convenience store brand,” said CEO Colin Harvey.
The company’s board said trading conditions for the next quarter are expected to be stable.
“We will continue to focus on our customer’s needs, pursuing our core strategy pillars of operational excellence, cost management and commercial innovation, at the same time refreshing the 7-Eleven brand in the mind of customers through refreshed stores, innovations in our pricing, promotions, and developing exciting products,” read a statement from the board.
Questions & Answers
Q.What contributed to the increase in 7-Eleven Malaysia’s profit this quarter?
What contributed to the increase in 7-Eleven Malaysia’s profit this quarter?
The firm reported a 4.5 percent sales growth during the quarter. This was accompanied by a 5.1-percentage point improvement in gross profit margin, which also helped boost the overall profit figures.
Q.How many new stores did 7-Eleven Malaysia open in the third quarter?
How many new stores did 7-Eleven Malaysia open in the third quarter?
7-Eleven Malaysia opened 53 new stores during the third quarter. This expansion brought the total number of stores in its network to 2382 locations across the country.
Q.What is the company’s outlook for trading conditions in the next quarter?
What is the company’s outlook for trading conditions in the next quarter?
The company’s board anticipates that trading conditions for the upcoming quarter will remain stable. They plan to continue focusing on customer needs and their core strategic pillars to ensure positive results.
Q.What is 7-Eleven Malaysia's strategy for future growth and brand perception?
What is 7-Eleven Malaysia's strategy for future growth and brand perception?
The CEO aims to strengthen assortment, supply chain, and operations while digitally enabling the organisation. The board also plans to refresh the 7-Eleven brand through updated stores, pricing innovations, promotions, and new products.
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