USA: 7-Eleven posts positive Q4 results and high hopes for H2 of 2001
Fourth-quarter results at 7-Eleven have been welcomed by investors, as the US/Canada convenience store chain revealed a better than expected 35% increase in net income to US$14.2m, representing earnings of 13 cents a share.
Analysts had anticipated 11 cents a share earnings from the 5700-outlet strong chain.
Sales also rose by 6.6%, to US$2.29bn, but during the first half of 2001, the group expects to witness a slower rate of merchandise sales, which contributed US$1.61bn to the recent results and revealed a 2.1% increase.
Looking to the second half however, the outlook is more favourable, largely prompted by expectations of improvement in gasoline market conditions.
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