Seven & i's 1st-Half Operating Profit Up 11.5 Pct
Tokyo, Oct. 8 (Jiji Press)--Seven & i Holdings Co. said Thursday that its consolidated operating profit for March-August rose 11.5 pct from a year earlier to 232.2 billion yen. The Japanese retail giant's overseas convenience store business, which includes gasoline sales, performed well amid high crude oil prices. The company's net profit increased 2.2 pct to 124.4 billion yen. However, s...
Tokyo, Oct. 8 - Seven & i Holdings Co. reported an 11.5% increase in its consolidated operating profit for the first half of the year, reaching 232.2 billion yen compared to 207.4 billion yen a year ago. The overseas convenience store segment, including gasoline sales, contributed significantly to this growth amid high crude oil prices.
Net profit also rose by 2.2% to 124.4 billion yen. However, overall sales decreased by 2.8% to 5,460.2 billion yen, mainly due to the exclusion of York Holdings Co. and Seven Bank from the consolidated accounting. The domestic convenience store business experienced a 10% drop in operating profit, attributed to higher system and advertising costs, despite popular bread sales in stores and a smartphone ordering service launched in spring.
To boost customer engagement, Seven & i has formed a capital tie-up with mobile payment operator PayPay Corp. this summer.
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