7-Eleven parent reports huge sales growth
Japanese retail giant Seven & I has reported a 15.8 per cent increase in net sales for the nine months to November.
Profit rose by a less impressive 2.9 per cent.
The 7-Eleven parent said its overseas convenience store business achieved an impressive 15.7 per cent increase in operating profit year on year.
At home, its Ito-Yokado superstore managed to reduce its operating loss to ¥200 million (US$1.85 million), however its York-Benimaru supermarket division and Sogo & Seibu department stores both struggled, the latter losing ¥937 million ($8.6 million).
Seven & I’s net sales totalled ¥4.11 trillion ($38 billion).