Japanese convenience store chain FamilyMart has posted a 50.7% rise in group net profit to ¥12.88bn (US$106.8m) for the year to 28 February, as it completes its cost-cutting programme.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

FamilyMart, which is third in the Japanese domestic convenience store industry by market share, reported an 11.2% rise in operating revenue to ¥217.47bn for the full year.

The convenience store chain, which is 30% owned by Japanese trading house Itochu Corp, predicted a rise of 6.4% in group net profit to ¥13.7bn for the current financial year, on sales of ¥229.0bn.

“We have nearly finished shutting unprofitable stores. Our earnings reflect the fall in costs needed for such closures,” a FamilyMart spokesman was quoted as saying by Agence France-Presse.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Just Food Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Just Food Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now