Sales, profits up at 7-11 retailer Seven & I Holdings

Sales, profits up at 7-11 retailer Seven & I Holdings

Japanese convenience retailer Seven & I Holdings has reported an increase in sales and profits for the first nine months of its financial year.

The company behind the 7-11 chain booked net profit of JPY96.96bn (US$923.6m) for the period to the end of November, up 15.9% year-on-year. Operating profit was up 15.1% at JPY249.14bn.

The higher profits came on the back of rising sales. Seven & I said its revenues from operations increased 13.8% to JPY4.19trn.

The company maintained its forecast for annual earnings. It expects a net profit of JPY170bn and an operating profit of JPY340bn on the back of revenue of JPY5.64 trn.