Reported 2 days ago
Japan's Seven & i Holdings announced a 9.7% increase in operating profit for the March to May quarter, driven by strong performance from its overseas convenience stores. Despite pressure from a $47 billion takeover bid by Canada's Alimentation Couche-Tard, the company's profits surpassed analyst expectations, reaching 65.1 billion yen. While domestic store profits declined, U.S. operations benefited from improved gross margins through proprietary products and optimized labor costs. The retailer continues to pursue financial improvements through share buybacks and asset sales.
Source: YAHOO