Retail in Asia

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7-Eleven owner Q1 profit up 9.5 pc, full-year forecast unchanged

Japan’s Seven and I Holdings Co Ltd, owner of the 7-Eleven convenience store chain, posted a 9.5 percent rise in first-quarter profit which was its highest on record for the traditionally dull March-May period.

Japan’s biggest convenience store operator, buoyed by an expansion of its store network, left its full-year operating profit forecast for the year to February unchanged at a record JPY340 billion (USD3.41 billion), in line with forecasts.

Japanese convenience store operators are now reaping the rewards of aggressively opening new outlets in recent years and taking business from supermarkets by expanding their lineup of prepared foods and private-label products.
 

(Source: CNBC)