Seven & i Holdings' domestic convenience-store profit falls 9.8% in H1 as overseas operations nearly double
Seven & i Holdings' core Japanese convenience-store business posted a 9.8% profit fall in the six months to August, even as its North America-led overseas arm nearly doubled profit and carried consolidated operating profit up 11.5% — a margin squeeze inside Japan's most closely watched retail channel that the group's unchanged full-year guidance is now banking on overseas growth to offset.
Seven & i Holdings said operating profit at its Domestic Convenience Store Business segment — anchored by Seven-Eleven Japan — fell 9.8% to ¥109,899m in the six months to August 31, even as the group's Overseas Convenience Store Business segment, built around 7-Eleven, Inc. in North America, nearly doubled operating profit, up 87.7% to ¥150,422m, according to the company's interim (決算短信) results, filed October 8.