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Seven & i's Fiscal Q1 Profit Rises 24% on Overseas Convenience Store Revenue Surge

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Seven & i's Fiscal Q1 Profit Rises 24% on Overseas Convenience Store Revenue Surge

Seven & i's (TYO:3382) attributable profit increased nearly 24% in the three months through May 31 on a surge in its overseas convenience store business, according to a Thursday disclosure to the Tokyo Stock Exchange.

Attributable profit rose to 60.6 billion yen in its fiscal first quarter from 49 billion yen in the year-ago period, beating the 42 billion yen estimate by analysts polled by Visible Alpha.

Earnings per share at the owner of 7-Eleven grew to 26.21 yen from 18.96 yen a year earlier.

Revenue from operations slid 14% to 2.379 trillion yen from 2.777 trillion yen a year earlier. Operating income jumped 61% to 105 billion yen from 65.1 billion yen a year earlier

Operating revenue from its overseas convenience store operations inched up 2% to 2.136 trillion yen from 2.093 trillion yen, while operating income surged 655% or about 7.6 times, to 65.6 billion yen from 8.69 billion yen in the year-ago period.

The convenience store operator attributed its success to customer experience enhancement in its North American operations, while its Australian segment boosted its fresh food development by promoting Japan-related offerings.

Domestic convenience store operations revenue increased 103% to 230.2 billion yen, while operating income grew 96% to 52.2 billion yen.

Seven & i's boost in its Japan operations centered on its Seven Café bakery and tea brands, as well as improvements in its logistics and procurement.

Total domestic store sales from corporate and franchised stores grew 102% to 1.377 trillion yen.

The convenience store operator increased its guidance for the fiscal year through Feb. 28, 2027. Attributable profit should reach 278 billion yen from the previous forecast of 270 billion yen.

Revenue is now expected to rise to 10.4 trillion yen from 9.448 trillion yen, while operating income is forecast to grow to 425 billion yen from 405 billion yen.

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