Japanese retailer Seven & I Holdings has forecast its full-year operating profit will increase 15%, above analyst estimates.
Seven & I, the company behind the 7-11 convenience chain, said it sees its operating profit for the year to 28 February 2014 reaching JPY340bn (US$3.41bn). Analysts polled by Thomson Reuters forecast profit of JPY326.9bn.
The company also forecast a 13% increase in revenue to JPY5.64trn and a 23.1% gain in net income to JPY170bn.
The estimates were outlined after Seven & I reported its financial results for the year to 28 February – when its earnings and revenue rose but at slower rates than projected for the year ahead.
Net income was up 6.3% at JPY138.06trn. Operating income increased 1.2% to JPY295.66bn. The rise in profits came on the back of higher margins in Japan and in the US, as well as a 4.3% gain in revenue to JPY4.99trn. Seven & I said an increase in its store network in Japan boosted sales.
At the end of the 2012 calendar year, Seven & I had 49,759 stores worldwide, up on the 44,985 outlets in 2011.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData