Japanese retailer Seven & I has retained its full-year outlook in the face of a slowing Japanese economy after posting a 1.6% increase in revenues for the nine months ended 30 November.

Sales from continuing operations totalled JPY432bn (US$4.73bn) during the nine-month period.

The company said that sales of grocery items grew as Japanese consumers look to conserve money by eating at home.
Sales gains drove a 4.4% increase in operating income, which rose to JPY218bn, the company said in a trading update today (8 January).

However, Seven & I said net income dipped 0.6% to JPY101bn from JPY102bn for the first nine months of last year.

The retailer retained its guidance for the full year ending in February, predicting operating profit of JPY294bn, up 4.6% year-on-year.