Seven & i has recorded a 8.2% increase in total Group sales to JPY5,950bn, with operating profit rising 2.6% to JPY199,610bn year-on-year for the six months ending 31 August.
7-Eleven Japan's revenue up 2.9%
Domestic convenience store operations recorded a 2.9% increase in revenue to JPY486,243m year-on-year (yoy). 7-Eleven Japan's key growth measure, existing store sales, increased 1.4% in the first half. In response to increase in demand for take-home meals, it continued to focus expanding sales space for frozen foods and launched, for example, Seven Premium snack series dedicated to easy meals. The retailer added 336 stores to its convenience network in Japan to reach 20,596 outlets.
Ito-Yokado reforms continue
Consolidated revenue for Seven & i's superstore operations was flat. The retailer ended the first half with 164 Ito-Yokado stores in Japan, the same number as the first quarter. However, it forecasts to operate six fewer stores by the end of FY2019, continuing to reform this part of the business.
Faster growth overseas
Revenue from operations at 7-Eleven Inc (U.S and Canada) increased 41.8% to JPY1,357bn. This was largely driven by the effect of the Sunoco acquisition, but nonetheless existing store sales increased 1%. 7-Eleven continues to position itself for the future, partnering with Foodora in Canada for example, to launch a food delivery app that allows customers to order a range of snacks and everyday essentials from 48 7-Eleven locations in Toronto, Vancouver, Calgary and Edmonton.
The retailer's footprint across Asia continues to grow quickly. Through area licenses, for example, 7-Eleven is expanding into new cities in China. Last year, it entered Zhejiang, and during the first half the first 7-Eleven store opened in Jiangsu Province.