7-Eleven Malaysia sets sales record
7-Eleven Malaysia set a full-year sales record last year after revenue rose 6.4 per cent to $33.76 billion.
Much of the growth came from network expansion, but same-store sales rose 2.5 per cent, despite declining cigarette sales. The company opened 165 new stores last year, 41 of those in the last quarter, taking its network to 2411. Other factors were higher footfall and an increase in the average transaction. Fresh-food sales grew more than 28 per cent year on year.
Profit attributable to shareholders was up 5.4 per cent.
7-Eleven Malaysia CEO Colin Harvey said the company had kept costs in check, reducing them from 29 per cent of turnover to 28.4 per cent, despite an increase in the minimum wage.
“We are confident that continuous implementation and improvement of our strategy roadmap in strengthening the key areas of assortment, supply chain, operational excellence, store base and digitally enabling the organisation will continue to deliver positive results despite challenging headwinds,” he said.