7-Eleven parent sales surges: Report
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Japanese retail giant Seven & I has reported a 15.8 per cent increase in net sales for the nine months to November. Profit rose by a less impressive 2.9 per cent. The 7-Eleven parent said its overseas convenience store business achieved an impressive 15.7 per cent increase in operating profit year on year.
At home, its Ito-Yokado superstore managed to reduce its operating loss to ¥200 million (US$1.85 million), however its York-Benimaru supermarket division and Sogo & Seibu department stores both struggled, the latter losing ¥937 million ($8.6 million).
Seven & I’s net sales totalled ¥4.11 trillion ($38 billion).
Questions & Answers
Q.Which specific business division contributed most significantly to Seven & I's overall profit increase?
Which specific business division contributed most significantly to Seven & I's overall profit increase?
The overseas convenience store business was the primary driver of profit growth, achieving a 15.7 per cent increase in its operating profit year on year. This was a key factor in the parent company's overall 2.9 per cent profit rise.
Q.What was the performance like for Seven & I's domestic supermarket and department store operations?
What was the performance like for Seven & I's domestic supermarket and department store operations?
Domestically, the Ito-Yokado superstore reduced its operating loss to ¥200 million. However, both the York-Benimaru supermarket division and Sogo & Seibu department stores struggled, with the latter losing ¥937 million.
Q.How much were Seven & I's total net sales for the nine-month period?
How much were Seven & I's total net sales for the nine-month period?
Seven & I reported total net sales of ¥4.11 trillion ($38 billion) for the nine months up to November. This represents a 15.8 per cent increase in net sales for the period.
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