JAPAN: Seven-Eleven Japan posts 12.4% rise in H1 earnings
Convenience store operator Seven-Eleven Japan has posted a 12.4% rise in first-half profits, boosted by cost cuts and strong sales of boxed lunches.
The company reported net profit of ¥49.99bn (US$458.0m) for the March to August period, compared to its March forecast of ¥47.2bn.
Revenues rose 12.4% to ¥239.38bn, as the addition of 300 new outlets during the first half offset a 1% slide in same-store sales.
Seven-Eleven, which has around 10,000 outlets and a market share of 20%, used inventory tracking systems to respond quickly to consumer behaviour, a move that enabled it to cope with Japan's unseasonably cool summer weather, reported Reuters.
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