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Convenience Stores · Earnings · IPO · Retail
Seven & i Holdings projects a 7.8% decline in annual net profit to Y270.00 billion for the new fiscal year and delays the planned initial public offering of its North American convenience-store business until fiscal year 2027 at the earliest.
For the three months ended February, the company reported a 14% drop in net profit year-over-year to Y94.30 billion, equivalent to $594.7 million, which surpassed the Y60.6 billion estimate from Visible Alpha. Fourth-quarter revenue decreased 18% to Y2.379 trillion, partly attributed to the recent sale of superstores and other businesses.
For the new fiscal year, which commenced in March, Seven & i Holdings projects revenue to decline 9.4% to Y9.448 trillion. The company previously aimed to list its North American unit by the end of this year.
Seven & i Holdings has implemented strategies to enhance earnings, including expanding proprietary and freshly made food items, and sold superstores for $5.4 billion as part of measures to boost shareholder value following Alimentation Couche-Tard's abandoned $47 billion takeover attempt, as reported by Dow Jones.
Fundraising in the first quarter hit $86 billion under the impact of private-markets worries and war.
