Sharp Decline in Seven & i’s First-Half Fiscal 2017 Net Profit, Mainly Due to Impairment Losses
For first-half fiscal 2017, narrow-moat Seven & i’s operating income rose by 5.2% year over year to a record high of JPY 181.5 billion, despite a 4.3% revenue decline on the back of lower gasoline sales and the negative effect of a stronger yen. This is primarily due to year-over-year operating income growth in the convenience-store business (5.2%) as a result of higher existing-store sales and gross margin improvement; in the superstore business (605.2%), owing to a low base, restraint in s...Seven & i Holdings is a holding company mainly engaged in the retail business. Co.'s business segments are convenience stores, superstores, department stores, food services, finance related, mail order & e-business and others. Co. is engaged in the operation of direct and franchise convenience stores called "7- Eleven." As of Feb 28 2018, Co. maintains total of 20,260 convenience stores throughout Japan. Co. is also engaged in the operation of supermarkets, specialty stores, full-service and fast food restaurants, meal provision service business to company cafeterias, hospitals and schools, banking and credit card services, leasing business, as well as the provision of IT business.
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