even & I Holdings Co said Thursday its consolidated net profit from March through November jumped 30.1% from a year earlier to 90.22 billion yen on the back of a strong performance by its mainstay convenience store business.
Consolidated sales edged up 0.2% to 3.83 trillion yen with convenience store sales climbing 4.2% to 1.56 trillion yen, but the major retail group’s supermarket and department store businesses did poorly.
The number of shoppers at Seven & I’s convenience stores reached a record high for the nine-month period as more people bought food such as precooked dishes, bread and milk, more than offsetting the dampening effect of a tobacco tax hike in October.
The operating profit of the supermarket business dived 59.6% to 1.37 billion yen due to weak clothing sales and increased costs related to the opening of new outlets.
The department store operation saw a loss of 2.12 billion yen.
The company retained its earnings forecast for the business year through February, estimating a group net profit of 100 billion yen, more than double that a year earlier, on sales of 5.14 trillion yen, up 0.6%.
Seven & I's group net profit surges 30% in March-Nov › Japan Today: Japan News and Discussion
No comments:
Post a Comment